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Questions and Answers
Which formula calculates the profit of a business?
Which formula calculates the profit of a business?
- Total revenue - Total costs
- Total contribution - Fixed costs
- Revenue - Total costs (correct)
- Total costs - Fixed costs
What is the formula for calculating market share?
What is the formula for calculating market share?
- Sales of one product - Total sales in the market
- Sales of one product x Total sales in the market
- Sales of one product + Total sales in the market
- Sales of one product / Total sales in the market (correct)
What is the formula for calculating labour productivity?
What is the formula for calculating labour productivity?
- Output over a time period - number of employees
- Output over a time period / number of employees (correct)
- Output over a time period + number of employees
- Output over a time period x number of employees
What is the formula for calculating capacity utilisation?
What is the formula for calculating capacity utilisation?
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What is the formula for calculating net gain?
What is the formula for calculating net gain?
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Study Notes
Formulas for Business Calculations
- Profit formula: Profit = Revenue - Total Costs
- Market share formula: Market Share = (Company's Sales ÷ Total Market Sales) × 100
- Labour productivity formula: Labour Productivity = Total Output ÷ Total Labour Hours
- Capacity utilisation formula: Capacity Utilisation = (Actual Output ÷ Maximum Potential Output) × 100
- Net gain formula: Net Gain = (Selling Price - Cost Price) ÷ Cost Price × 100
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