Economics GCSE
Total cost
What Total cost means in Economics GCSE, as defined for AQA.
Definitions of Total cost
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Reference: AQA
Calculated by adding total fixed costs and total variable costs together.
Calculated by adding fixed and variable costs together (TC = FC + VC).
Topics that use Total cost
Related terms
- Average cost
- Average revenue
- Cost minimisation
- Ethical and moral interests
- Financial performance
- Fixed costs
- Incentives and risk
- Market share
Using Total cost in the exam
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