Bioavailability refers to the percentage of an administered drug dose that reaches systemic circulation in an unchanged form. It is calculated as the bioavailable dose divided by the administered dose. Absolute bioavailability compares bioavailability of a non-intravenous dose to an intravenous dose, while relative bioavailability compares bioavailability between different formulations of the same drug. Many factors can affect a drug's bioavailability including its physical properties, the dosage form, physiological factors like pH and transit time, and first-pass metabolism. Volume of distribution represents the hypothetical volume that the drug distributes into in the body and half-life is the time for a drug amount or concentration to reduce by half, which is affected by volume of distribution and clearance.