BUS 6600 Module 1 – Advanced Business Studies – 2026 – Study and Practice
Guide
GOODS - correct answer ✔✔ Tangible products such as computers, food, clothing, cars, and
appliances.
SERVICES - correct answer ✔✔ Intangible products (that can't be held in your hand) like
education, healthcare, insurance, recreation and travel.
BUSINESS - correct answer ✔✔ any activity that seeks to provide goods and services to others
while operating at a profit.
ENTREPRENEUR - correct answer ✔✔ A person who risks time and money to start and manage
a business.
REVENUE - correct answer ✔✔ The total amount of money a business takes in during a given
period by selling goods and services.
PROFIT - correct answer ✔✔ The amount of money a business earns above and beyond what it
spends for salaries and other expenses.
Guide
GOODS - correct answer ✔✔ Tangible products such as computers, food, clothing, cars, and
appliances.
SERVICES - correct answer ✔✔ Intangible products (that can't be held in your hand) like
education, healthcare, insurance, recreation and travel.
BUSINESS - correct answer ✔✔ any activity that seeks to provide goods and services to others
while operating at a profit.
ENTREPRENEUR - correct answer ✔✔ A person who risks time and money to start and manage
a business.
REVENUE - correct answer ✔✔ The total amount of money a business takes in during a given
period by selling goods and services.
PROFIT - correct answer ✔✔ The amount of money a business earns above and beyond what it
spends for salaries and other expenses.
