Business formulas (theme 1) Flashcards
1
Q
What’s the formula for market share?
A
Businesses sales / sales in market x 100
2
Q
What’s the formula for market growth?
A
Difference in market size / original market size x 100
3
Q
What’s the formula for price elasticity of demand?
A
% Change in quantity demanded / % change in price
4
Q
What’s the formula for income elasticity of demand?
A
% change in quantity demanded / % change in income
