What mean by"turnover by value" and "turnover by volume"?

Question

What mean by"turnover by value" and "turnover by volume"?

Answer 1

Am I doing your economics course for you?!!!

"My company sold $3million of t-shirts last year"  is a statement of turnover by VALUE,

"My company shifted 300,000 t-shirts last year" (at ten bucks a piece) is the turnover by volume.  That may be all you can make in your factory, without hiring more staff in a bigger building.  Can you raise the price, or will they cost too much for the buyer?  Are your costs from suppliers falling, as they want to keep you as a valued customer?  Is the market flooding with this item, is fashion changing?  

    Economics is all about the right question, at the right time.  Ride that wave into shore, then find the next.

Answer 2

Turnover is the number of sales and as others have pointed out it can be expressed in two ways

By value = units X price per unit

By volume = number of units sold

Which figure is more useful will depend on the type of business. It is possible e.g. computer sales for the price to be falling so fast that turnover volume increases but turnover by value decreases.

Answer 3

Turnover by value is selling a few items with a high profit margin. Turnover by volume means selling many items with a low profit margin, as per the old sales adage 'Stack 'em high, and sell 'em cheap'

Answer 4

I would imagine that the former relates to how much is old in relation to what it cost, and how much it sold for. The latter relates to how much is sold. In both cases it could refer to other services also ie hotels, beauty parlours...

Therefore, it could be the case that a smaller turnover of goods/services with a higher value could= higher income. {I think?}