1. Appreciate how increasing revenues and reducing costs improves proift
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

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

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

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

5. 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

6. 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

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

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

9. Appreciate how increasing revenues and reducing costs improves proift

10. Appreciate how increasing revenues and reducing costs improves proift

11. 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?
(money coming into the business)
5 minutes
Appreciate how increasing revenues and reducing costs improves proift

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

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