Theme 1 - calculations Flashcards

1
Q

Market growth

A

(New - old/old)x100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Market share

A

(sales of a product or business/total market sales) x 100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

PED

A

%change QD/ %change in price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

YED

A

%change in QD/%change win income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Added value

A

Selling price - Cost of production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Constructing a supply and demand diagram

A
- When a question asks you to construct a supply and demand diagram with a shift in supply or demand always remember LACES:
Labels
Axis
Curves
Equilibrium points
Shifts
How well did you know this?
1
Not at all
2
3
4
5
Perfectly