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Business > THEME 1 FORMULAS > Flashcards

THEME 1 FORMULAS Flashcards

1
Q

Percentage change increase

A

Increase equals new number take away original number
increase divided by original number x one hundred

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2
Q

Percentage change decrease

A

decrease equals original number take way new number
decrease divided by original number x one hundred

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3
Q

THEME ONE: PED

A

change in quantity demanded divided by change in price
greater than minus one equals elastic
lower than minus one equals inelastic

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4
Q

THEME ONE: YED

A

change in quantity demanded divided by change in income
positive figure less than one equals normal good
positive figure more than one equals luxury good
negative figure equals inferior good

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5
Q

THEME ONE: Market Share

A

total sales of firm divided by total sales in market x one hundred

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Business (2 decks)

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