Cambridge National in Enterprise and Marketing
R067 – Enterprise & Marketing Concepts
Topic Three – What makes a product financially viable
When taught: January-March Year 10
Specification link: Cambridge Nationals – Enterprise and Marketing Level 1/Level 2 – J837 – OCR
What are we learning?
What costs do a firm face?
- Different types of costs – fixed, variable, total, per unit.
What is revenue? How is it calculated?
What is profit? How is it calculated?
What is break-even?
- How to use the break-even formula and break-even graph
What is cash?
- Why is cash important to a business?
How will we be assessed?
The end of topic assessment will consist of multiple choice questions, financial calculations and short answer questions as seen in the exam papers. The skills and knowledge developed through this unit will also be used as a key part of the R068 coursework.
What makes a strong piece of work in this topic? What are teachers hoping to see?
- Good knowledge and understanding of key ideas and concepts, including identifying incorrect ideas
- Effective use and understanding of subject specific terminology
- Correct application of the correct formulae, showing all working out and use of the break-even formula and graph.
- Developed explanation – identify a factor, explain that factor, then explain the impact on a business
What additional resources can I access outside of lessons?
Revenue and costs – BBC Bitesize
Break-even level of output – Business revenue, costs and profits – BBC Bitesize
GCSE Learning and Revision | GCSEPod
