Theme 1 - Formulas

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Market share
(Sales of a business / Total sales in a market) *100
1 of 5
Price elasticity of demand (PED)
% change in quantity demanded / % change in price
2 of 5
Income elasticity of demand (YED)
% change in quantity demanded / % change in income
3 of 5
Percentage change
(New figure - Old figure / Old figure ) *100
4 of 5
Sales value (revenue)
Selling price * Quantity sold
5 of 5

Other cards in this set

Card 2

Front

% change in quantity demanded / % change in price

Back

Price elasticity of demand (PED)

Card 3

Front

% change in quantity demanded / % change in income

Back

Preview of the back of card 3

Card 4

Front

(New figure - Old figure / Old figure ) *100

Back

Preview of the back of card 4

Card 5

Front

Selling price * Quantity sold

Back

Preview of the back of card 5

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