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Sample Answer for Define market share. (2 marks)

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Market share is the proportion of a market that a particular business or product enjoys. In this case, Figure 3 shows that global sales of EVs in 2016 were 774,000 units. This was 42% higher than for 2015 but only 0.86% of the total market for vehicles. This is a very small market share. However, in 2010 market share was only 0.01 per cent.

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