Theme 1 formulas Flashcards
1
Q
Market Share
A
sales of business/total sales in the markets x 100
2
Q
total [sales] revenue
A
price x quantity
3
Q
PED
A
%change in quantity demanded/ % change in price
4
Q
YED
A
%change in quantity demanded/ % change in income
5
Q
Added value
A
selling price – cost of inputs – cost of transformation
6
Q
Profit
A
total revenue – total cost
7
Q
Market Growth
A
change in size of market / original size x 100
8
Q
Market Size
A
number of units sold x price
9
Q
% Change
A
original - new / original x 100
