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Business Studies IGCSEPDF 151
212 pagesrevision 46931
PDF 151
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Question
Answer
Marks
Guidance
4(a)
Define ‘average cost’.
Award 2 marks for a full definition. Award 1 mark for a partial
definition.
e Total cost divided by (total) output [2]
e Total cost divided by the number of items
produced/made [2]
e The cost of producing a single product/unit of output [2]
Partial definition e.g.
e Cost divided by output [1]
e Total cost divided by number of units [1]