Economics Consumer Surplus And Producer Surplus Questions
Market share refers to the portion or percentage of total sales or revenue that a company or brand captures within a specific market or industry. It is a measure of a company's competitiveness and market position relative to its competitors. Market share can be calculated by dividing a company's sales or revenue by the total sales or revenue of the entire market and multiplying it by 100. A higher market share indicates a larger customer base and a stronger presence in the market, which can lead to increased profitability and influence over market trends.