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22.8
Review exercise
Learning pathways LEVEL1 1, 3, 4, 5, 8, 14
LEVEL2 2, 6, 7, 9, 10, 13
LEVEL3
11, 12, 15
REMEMBER AND UNDERSTAND 1. Revenue is calculated by:
A. selling price × costs. B. costs − selling price. C. selling price × number of sales. D. selling price − costs. 2. Business opportunities are influenced by factors including: A. costs, revenue, profit and loss. B. production and processes. C. budgets. D. demographics, target market, competition and location. 3. A target market is: A. a specific group of customers that the business is aiming its product at. B. an amount of sales that needs to be made. C. a projection for a budget. D. all of the above. 4. In the past decade, the Australian industry that has experienced a significant decrease in the proportion of the workforce that it employs is: A. retail trade. B. construction. C. manufacturing. D. health care and social assistance. 5. Technological advances enable businesses to: A. create new markets.
B. communicate instantly. C. produce better products. D. do all of the above. 6. Identify the correct formula for gross profit. A. revenue − profit B. costs − revenue C. revenue − costs of materials D. net profit − cost of goods sold
658 Jacaranda Humanities Alive 8 Victorian Curriculum Third Edition
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