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BUSINESS FC > THEME 1 FORMULAS > Flashcards

THEME 1 FORMULAS Flashcards

1
Q

Market share

A

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

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2
Q

Percentage change

A

Increase ÷ Original Number × 100. If the answer is a negative number, that means the percentage change is a decrease.

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3
Q

Price elasticity of demand

A

%change in quantity demanded/% change in price

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4
Q

Income elasticity of demand

A

%change in quantity demanded/%change in income

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BUSINESS FC (9 decks)

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