Business GCSE
Profit
What Profit means in Business GCSE, as defined for AQA, Pearson Edexcel.
Definitions of Profit
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Reference: AQA
What remains after costs are deducted, which is squeezed and may become a loss if revenue falls while costs stay the same.
Rises when the extra revenue from increased spend exceeds the extra cost of serving those customers.
What remains when total costs are lower than revenue, calculated as revenue − total costs.
What remains when total costs are subtracted from revenue: profit = revenue − total costs.
What remains when total costs are subtracted from revenue; a negative result is a loss.
The financial reward calculated by subtracting total costs from total revenue.
Topics that use Profit
- Business planning (AQA GCSE)
- Financial terms and calculations (AQA GCSE)
- Good customer services (AQA GCSE)
- Risk and reward (Pearson Edexcel GCSE)
Related terms
- Break-even
- Costs
- Fixed Costs
- Loss
- Revenue
- Total costs
- Variable costs
- Accuracy and limitations of forecasting
Using Profit in the exam
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