Study with Quizlet and memorise flashcards containing terms like Total costs, Variable costs, Revenue and others. Let's work through some of the trickiest types of calculation questions that have come up on GCSE business paper one.In the private sector these goods and services are sold in the hope that a profit is made for the business owners. A brand new shop in your home town. This is a way to calculate gross profit, rather than the gross profit margin. Complete list of formulas for paper 1 with examples and practice questions with answers. Learn techniques for taking your GCSE Business exam with example questions, answers and case studies. Enterprise and entrepreneurship. Gross profit margin is the percentage ratio of revenue you keep for each sale after all costs are deducted. Apply for a Certificate of Authority online using New York Business Express.