Economics B A-Level
Profit and loss
What Profit and loss means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Profit and loss
Check what you remember
Read the wording for your board, then hide it and explain Profit and loss in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Outcomes that vary, as firms adapting successfully can achieve economies of scale and higher profits, while those failing to adapt face losses.
Topics that use Profit and loss
- How the digital economy affects markets and firms (Pearson Edexcel A-Level)
Related terms
- Cost structures
- Creative destruction
- Digital skills
- Market competition
- Micromarketing
- Social media
- Viral marketing
- Wider geographical markets
Using Profit and loss in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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