Economics B A-Level
Total costs
What Total costs means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Total costs
Check what you remember
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Reference: Pearson Edexcel
The sum of total fixed costs and total variable costs.
Topics that use Total costs
- The relationship between revenue and costs (Pearson Edexcel A-Level)
Related terms
- Break-even analysis
- Break-even output
- Break-even point
- Business viability
- Contribution per unit
- Economies of scale
- Financial risk
- Fixed costs
Using Total costs in the exam
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