Economics GCSE
Profit Maximisation
What Profit Maximisation means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Profit Maximisation
The objective of firms to make the largest possible difference between total revenue and total costs.
Topics that use Profit Maximisation
- Economic assumptions (Pearson Edexcel GCSE)
Related terms
Using Profit Maximisation in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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