CBBU 1001 Study Guide - Midterm Guide: Hot Dog Cart, Peter Drucker, Big Business

• School: Fordham University
• Department: Core Business
• Course: CBBU 1001
• Professor: Duysl Askun Celik

Document Summary

A business is any activity that seeks to provide goods and services to others while operating at a profit. To earn a profit you must provide people and other business with desired goods, jobs and services. Goods are tangible products while services are intangible products. Successfully filling the market"s needs allows business owners to make money ( even if that if not their primary goal) Ex: san walton opened one walmart store in arkansas and is now one of the richest entrepreneurs. There are 13. 5 million millionaires in the us. An entrepreneur is a person who risks time and money to start and manage a business. Revenue is the total amount of money a business takes in during a given period of time selling goods and services. Profit is the amount of money a business earns above and beyond what it spends on salaries and other expenses.