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Business Studies > Paper 1 : Equations > Flashcards

Paper 1 : Equations Flashcards

1
Q

The formula for Price Elasticity of Demand?

A

PED=Changes in demand/changes in price

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2
Q

The Formula for Income Elasticity of Demand?

A

YED= changes in demand/changes in price

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3
Q

The formula for percentage mark up

A

The difference in price/original cost) X 100

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4
Q

The formula for market share

A

SALES OF A BUSINESS /TOTAL SALES IN THE MARKET x 100

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Business Studies (22 decks)

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