Subject Assignment 17/01/25

Question 1

How to calculate PED?

Answer 1

% change in quantity demanded / % change in price

Question 2

How to calculate YED?

Answer 2

% change in quantity demanded / % change in income

Question 3

How to calculate market share?

Answer 3

Sales of a business / total sales in the market (x100)

Question 4

How to calculate market size?

Answer 4

By volume (quantity sold e.g tonnes x quantity sold)
By sales (value of sales e.g. price x quantity sold)