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Business edexcel formulas
- Institution
- PEARSON (PEARSON)
A level business formulas for all themes.
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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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