Opportunities Flashcards
1
Q
Market size
A
Number of units sold x price
2
Q
Market share
A
Sales of a firm / total market sales x 100
3
Q
Market growth
A
Change in sales over a period of time / original sales x 100
4
Q
PED
A
Change in quantity / % change in price
5
Q
YED
A
% change in quantity / % change in income
6
Q
Total cost
A
Variable + fixed
7
Q
Sales revenue
A
Selling price x quantity sold
8
Q
Profit
A
Sales revenue - total costs
9
Q
Break even output
A
Fixed costs / contribution per unit
10
Q
Variable costs
A
Total variable costs / no of units
11
Q
Contribution per unit
A
Selling price - variable costs per unit
12
Q
Margin of safety
A
Actual output - break even
