Aims for today To understand how increasing revenue

Aims for today • To understand how increasing revenue and reducing costs helps to increase profit • To understand the impact of both changing prices and costs on profit Appreciate how increasing revenues and reducing costs improves proift

Calculating profit & loss Appreciate how increasing revenues and reducing costs improves proift

Defining profit & loss Appreciate how increasing revenues and reducing costs improves proift

How can profit be improved? Appreciate how increasing revenues and reducing costs improves proift

Task 1: How can costs be lowered? • Make a mind map showing all the ways in which a business can lower its costs. Lowering costs 5 minutes Appreciate how increasing revenues and reducing costs improves proift

TASK 2: Sort out the information to show all the ways in which costs can be lowered. Appreciate how increasing revenues and reducing costs improves proift

How costs can be lowered. Appreciate how increasing revenues and reducing costs improves proift

How can revenues be increased Appreciate how increasing revenues and reducing costs improves proift

Appreciate how increasing revenues and reducing costs improves proift

Appreciate how increasing revenues and reducing costs improves proift

Task 3: How can revenues be increased? You have just opened a gaming store in Tunbridge Wells. Business has not been great in your first few weeks of trading. What could you do to increase your revenue? 5 minutes (money coming into the business) Appreciate how increasing revenues and reducing costs improves proift

How can revenues be increased Appreciate how increasing revenues and reducing costs improves proift

Can reducing prices increase profits? Appreciate how increasing revenues and reducing costs improves proift