Costs and Scale of Production (1)

This is a concise coverage of the costs aspects of production that will make learning so much easier for students. A brief reference is made to break even analysis to whet the students’ appetite for more.

• The concepts of fixed, variable, total costs and average costs are clearly explained to assist students understanding.
• Examples are used to clarify meaning of the different costs.
• Diagrammatic representation of fixed, variable and total costs are provided to enhance understanding of these costs.
• Break even analysis is simply explained to help students’ understanding.