What Is The Difference Between Revenue And Profit

Dilip ShresthaBTM101 (introduction Of Business)Professor: Santo TrapaniHW: Questions for Discussion Ch. 1 and 2September 20, 20151) What is the difference between revenue and profit?Difference between Revenue &amp, Profit:Revenue: Revenue is the total amount of income generated by the sale of goods or servicesrelated to the company’s primary operations. Profit is money a business earns above andbeyond the money that it. Revenue= Expenses profitProfit: It represents how much money the company has left over, if any, after it’s paid thecosts of doing business — payroll, raw materials, taxes, interest on loans, etc..(Profit=Revenue-Expenses)2) What is the difference between standard of living and quality of life?Ans: Standard Of Living –The term Standard of living refers to the amount of goods andservices people can buy with more money they have. It’s really depends on your income.For example buying a car, going to Paris, London and etc. for vacation those are examples ofstandard of living.Quality of Life — The general well-being of a society in terms of its political freedom orsystem, natural environment, education, healthcare, safety, amount of leisure and rewardsthat add to personal satisfaction.3) What is risk, and how is it related to profit?Ans: The chance an entrepreneur takes of losing time and money on a business that may notprove profitable. Businesses take risks, but with great risks could come great profit. Well theway to earn money is to spend money…so the more you spend the more you couldpotentially gain and the more you could potentially lose too. The more you risk the moreyou gain/lose.4) Thinking in terms of &quot,stakeholders&quot,, describe how YOU are a stakeholder as a studentas LaGuardia. What are the risks to you being fully served as a student at LaGuardia?Hint: Think business &amp, look at Figure 1.3 on Page 12 in the text.Ans: Stakeholders — All the people who stand to gain or lose by the policies and activities ofa business and whose concerns the businesses need to address. Stakeholders includecustomers, employees, stockholders, suppliers, dealers, bankers, the media, and people inthe local community, environmentalists, and elected government leaders. The goal ofbusiness leaders is to try to recognize and respond to the needs of these stakeholders andstill make a profit. I am LaGuardia Student and I am also stakeholders. If you are a goodstudent and if you have good GPA and you will be welcomed by major big companies.Today’s students are the pillar o future. But if you do not study hard and do not participatein extra activates, chances are failing and losing the job from companies as well asscholarship too. It is kind of loss or profit.5) What are the factors of production? Which one, in your opinion, is most important for abusiness to succeed?The five factors of production are land, labor, capital, entrepreneurship, and knowledge. Themost important are entrepreneurship and knowledge. Entrepreneurs are people who risk timeand money to start and manage a business. What makes rich countries rich today is acombination of entrepreneurship and the effective use of knowledge.Chapter 2 Questions1) What is the current U.S. debt amount? Where did you find this data? (please include thesource of the information you found – full link to website)Ans: National Debt Tops $18 Trillion. http://www.treasurydirect.gov/NP/debt/current2) What is the current CPI? Where did you find this data?Ans: Current U.S. Current CPI 238.31. I found this data from Bureau of Labor Statics— ConsumerPrice Index.3) What is the current U.S. GDP? Did it increase or decrease from last quarter?Where didyou find this data?Current U.S. GDP $18.124 trillion as of Q2 2015. It is increased from the last quarter. I found thissource by Bureau of Economic Analysis (http://www.bea.gov/)4) What is the current U.S. Unemployment rate? Where did you find this data?The current U.S. Unemployment rate is 5.1%. I found this data from Bureau of Labor Statistics.(http://www.bls.gov/)5) What is the current U.S. PPI? Where did you find this data?Ans: Current U.S. PPI value 110.50. Bureau of Labor Statistics, Producer Price Indexes

Originally posted 2018-07-17 03:55:17. Republished by Blog Post Promoter

What is the difference between revenue and profit

Question
Dilip Shrestha
BTM101 (introduction Of Business)
Professor: Santo Trapani
HW: Questions for Discussion Ch. 1 and 2
September 20, 2015

1) What is the difference between revenue and profit?
Difference between Revenue & Profit:
Revenue: Revenue is the total amount of income generated by the sale of goods or services
related to the company’s primary operations. Profit is money a business earns above and
beyond the money that it. Revenue= Expenses profit
Profit: It represents how much money the company has left over, if any, after it’s paid the
costs of doing business — payroll, raw materials, taxes, interest on loans, etc..
(Profit=Revenue-Expenses)
2) What is the difference between standard of living and quality of life?
Ans: Standard Of Living –The term Standard of living refers to the amount of goods and
services people can buy with more money they have. It’s really depends on your income.

For example buying a car, going to Paris, London and etc. for vacation those are examples of
standard of living.
Quality of Life — The general well-being of a society in terms of its political freedom or
system, natural environment, education, healthcare, safety, amount of leisure and rewards
that add to personal satisfaction.
3) What is risk, and how is it related to profit?
Ans: The chance an entrepreneur takes of losing time and money on a business that may not
prove profitable. Businesses take risks, but with great risks could come great profit. Well the
way to earn money is to spend money…so the more you spend the more you could
potentially gain and the more you could potentially lose too. The more you risk the more
you gain/lose.

4) Thinking in terms of "stakeholders", describe how YOU are a stakeholder as a student
as LaGuardia. What are the risks to you being fully served as a student at LaGuardia?
Hint: Think business & look at Figure 1.3 on Page 12 in the text.
Ans: Stakeholders — All the people who stand to gain or lose by the policies and activities of
a business and whose concerns the businesses need to address. Stakeholders include
customers, employees, stockholders, suppliers, dealers, bankers, the media, and people in
the local community, environmentalists, and elected government leaders. The goal of
business leaders is to try to recognize and respond to the needs of these stakeholders and

still make a profit. I am LaGuardia Student and I am also stakeholders. If you are a good
student and if you have good GPA and you will be welcomed by major big companies.
Today’s students are the pillar o future. But if you do not study hard and do not participate
in extra activates, chances are failing and losing the job from companies as well as
scholarship too. It is kind of loss or profit.
5) What are the factors of production? Which one, in your opinion, is most important for a
business to succeed?

The five factors of production are land, labor, capital, entrepreneurship, and knowledge. The
most important are entrepreneurship and knowledge. Entrepreneurs are people who risk time
and money to start and manage a business. What makes rich countries rich today is a
combination of entrepreneurship and the effective use of knowledge.
Chapter 2 Questions
1) What is the current U.S. debt amount? Where did you find this data? (please include the
source of the information you found – full link to website)
Ans: National Debt Tops $18 Trillion. http://www.treasurydirect.gov/NP/debt/current
2) What is the current CPI? Where did you find this data?
Ans: Current U.S. Current CPI 238.31. I found this data from Bureau of Labor Statics— Consumer
Price Index.

3) What is the current U.S. GDP? Did it increase or decrease from last quarter?

Where did

you find this data?
Current U.S. GDP $18.124 trillion as of Q2 2015. It is increased from the last quarter. I found this
source by Bureau of Economic Analysis (http://www.bea.gov/)

4) What is the current U.S. Unemployment rate? Where did you find this data?
The current U.S. Unemployment rate is 5.1%. I found this data from Bureau of Labor Statistics.
(http://www.bls.gov/)
5) What is the current U.S. PPI? Where did you find this data?
Ans: Current U.S. PPI value 110.50. Bureau of Labor Statistics, Producer Price Indexes