Theme 1 - Equations Flashcards
1
Q
How do you calculate market share?
A
Sales of a business / total sales in market x 100
2
Q
How do you calculate Price elasticity of demand?
A
% change in quantity demanded / % change in price.
3
Q
How do you calculate Income Elasticity of Demand?
A
% change in quantity demanded / % change in income.
