Business Studies – 3.1.2 Understanding market changes | e-Consult
3.1.2 Understanding market changes (1 questions)
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Market Share = (Company Sales / Total Market Sales) x 100
In this case:
- Company Sales = 800,000
- Total Market Sales = 12,000,000
Therefore:
Market Share = (800,000 / 12,000,000) x 100 = 0.0667 x 100 = 6.67%
Answer: TechSolutions' market share in 2023 was 6.67%.