Anne-Marie Cole runs the sales division for a local auto insurance firm. One of her key duties is to calculate her company's market share. When evaluating the prior year numbers, she found that her firm achieved total sales of $3 million and the entire industry had $30 million in sales. What is Anne-Marie's current market share?
A)1%
B)10%
C)18%
D)20%

Question

Quizplus · Accepted Answer

Market share is the proportion of the market that a firm captures. It is calculated by dividing the firm's sales by the total market sales for the entire industry. 3 million divided by 30 million is 10 percent.

Anne-Marie Cole Runs the Sales Division for a Local Auto