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Business edexcel formulas

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A level business formulas for all themes.

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  • May 18, 2024
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  • 2023/2024
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Available practice questions

Flashcards 34 Flashcards
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Some examples from this set of practice questions

1.

Market size

Answer: no. of units sold x average selling price

2.

Market share

Answer: revenue from firm / revenue in market x 100

3.

Added value

Answer: selling price - cost of production

4.

Percentage change

Answer: new - old / old x 100

5.

PED

Answer: % change in demand / % change in price 0 = completely inelastic <1 = inelastic >1 = elastic

6.

YED

Answer: % change in demand / % change in income >1 = income elastic

7.

Cost plus pricing

Answer: total budgeted sales + markup / budgeted sales in units

8.

Sales volume

Answer: total sales revenue/ selling price per unit

9.

Sales revenue

Answer: price per unit x no. of units sold

10.

Total variable costs

Answer: average variable costs x quantity sold

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