Intro to Business Review

Front

What is business revenue?

Back

The total amount of money a business makes.

Front

What are business expenses?

Back

Money that is spent on the Needs and Wants of a business

Front

What is profit?

Back

If a business makes more money than it spends once expenses are subtracted.

Front

What is customer satisfaction?

Back

How happy customers are with a product or service

Front

What is an example of business revenue?

Back

Bike Inc. sold 4,000 bikes for $100 per bike this year. They made $400,000 from these sales.

Front

What is an example of business  expenses?

Back

Bike Inc. makes their own bikes. The cost of parts, labor, and decorations is $50 per bike.

Front

What is an example of profit?

Back

Bike Inc. made $400,000 from selling their bikes but spent $200,000 to make the bikes. So, the money they get to keep is $200,000. ($400,000 - $200,000 = $200,000 )

Front

What is an example of customer satisfaction?

Back

People who bought bikes really liked the cost of the bike, but many people did not like how the bike looked.

Front

How are revenue and profit different? Revenue is all of the money made from selling something before subtracting expenses. Profit is the money that is made from sales after subtracting expenses.

Back

True

Front

What is Bob's revenue from selling 5 calculators at $10 each?

Back

$50