3.3

Question 1

What are fixed costs?

Answer 1

costs that do not change with output

Question 2

What are variable costs?

Answer 2

costs that change directly with output

Question 3

What are direct costs?

Answer 3

costs that are directly linked to production

Question 4

What are indirect costs?

Answer 4

costs that are not directly linked to production

Question 5

What are revenue streams?

Answer 5

the ways in which a business earns its revenue

Question 6

How can multiple revenue streams help a business?

Answer 6

helps:
expand into new market segments
improve revenue and profitability