Greetings @simonnwigw

1.- You have given us your perception about costs and how important their good management is for a successful business. You have also explained the classification of costs, which is an aspect that will be addressed in future lessons.

2.- You have established differences between costs and expenses, exemplifying through a school. The cost in this case would be everything associated with the provision of the service, the payment to teachers, the chalk, are indispensable elements for teaching, so they would be part of the cost.

3.- You have shared with us the importance of costs for the profitability of a business, and how a good management of them can help to have a solid business.

4.- You have explained in detail the steps to follow to calculate the cost of production of a good or provision of a service, however we would have liked to see this explained through a calculation table with an example.

Below I share the summary of the evaluation.

Thanks for joining the contest