After using Google Maps for quite a while, I enjoyed areas that had buildings populated on the map, Google does a very good job of this, however since Google Map Maker closed, I felt somewhat disenfranchised with their mapping system, It became a lot harder to edit their maps and the experience is just not as good as Map Maker was. Then one day I discovered OpenStreetMaps and the simplicity of their map editor filled the hole in my heart that Map Maker left. I found that Open Street Maps iD editor was both friendly to use and better than Map… Continue reading Transitioning from Google Map Editor to OpenStreetMap
What does Break-even calculate? Here is a Break-even chart. It represents a 24 day period. Break-even is when a business is not making any losses or profit, seen in the chart above at 11 days. It can be seen that the yellow total costs line, is the same angle as the variable costs line, plus fixed costs. It also can be determined, that the blue shaded are represents the magin of safety as after that all costs are paid. What is Margin of Safety? The margin of safety is how much additional units you have sold in a given period. For… Continue reading What is Break-even analysis useful for anyway?
Here is a list of routinely forgotten equations for Business Studies, make sure to memorise them. Equations Total Contribution = Total revenue – Total variable cost Contribution per unit = Selling price per unit – Variable cost per unit or (for total contribution) Contribution per unit x Number of units sold Profit = Total contribution – Fixed cost Break-even Output = Fixed cost / Contribution per unit What do they mean? Contribution is useful for a business to be responsible for a range of products, it allows them to calculate how much money they make on a sale. The Break-even charts… Continue reading Common AS-Level Business Studies Equations