It is a formula with an equal sign
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No. Each side of the equal sign is an expression but the whole is an equation. An expression is a combination of numbers and operators without an equality (or inequality) sign.
[Actually, such signs may appear in conditional values, but that is getting seriously pedantic!]
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it means to break it down
math term value
It is an expression
No, the math term ratio doesn't mean multiply.
A term often used is "evaluate".