Unit 3 Formulas

Question 1

Sales Volume

Answer 1

Number of items sold

Question 2

Sales Value

Answer 2

Sales Volume X Selling Price

Question 3

Market Growth(%)

Answer 3

Market size this year - Market size previous year
(Change in market size)
———————————————————————- X100
Original market size

Question 4

Sales Growth(%)

Answer 4

Change in sales over a period of time
——————————————————– X100
Original sales

Question 5

Market share(%)

Answer 5

Sales of product
——————————–X100
Total sales in market

Question 6

Price Elasticity of Demand (PED)

Answer 6

Percentage change in quantity demanded
_______________________________________________
Percentage change in price

Question 7

Income Elasticity of Demand (YED)

Answer 7

Percentage change in quantity demanded
______________________________________________
Percentage change in income