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Variable Cost Pricing: Definition, Formula & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is a variable cost?

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1. What aspects must be considered when figuring out the variable cost?

2. What is a markup?

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About This Quiz & Worksheet

This quiz/worksheet is designed to help you take stock of your knowledge regarding variable cost pricing, with questions hitting on key definitions and aspects of the subject.

Quiz & Worksheet Goals

This quiz/worksheet is comprised of questions on the definitions and applications of:

  • Variable cost
  • Markups
  • Variable cost pricing

Skills Practiced

  • Distinguishing differences - compare and contrast the different elements of variable cost pricing
  • Defining key concepts - ensure that you can accurately define variable cost, markup and variable cost pricing
  • Knowledge application - use your knowledge to answer questions about the calculation of variable cost as well as variable cost as it applies to a specific example

Additional Learning

To learn more about this pricing model, see the accompanying lesson called Variable Cost Pricing: Definition, Formula and Examples. This lesson encompasses the following objectives:

  • Understand how variable cost pricing is used
  • Familiarize yourself with the various components of variable cost pricing
  • Explore the application of variable cost pricing within a provided example
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