Market Size
Total value or volume of products sold in market.
Formula
Market Size (value) = Total Revenue of All Firms in Market
Real World
The UK coffee shop market is worth over £4 billion — a large market size that attracted chains like Costa, Starbucks, and Pret to compete aggressively for share.
Exam Focus
State whether you're measuring by value or volume; examiners penalise answers that confuse the two measures.
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