Solution

Solution

Revenue and profit are fundamental. Revenue is the total money earned from selling goods or services. Profit is what remains after costs (rent, salaries, cost of goods) are subtracted:

Example: A shop in Lahore sells $100$ bags at Rs. $500$ each, so revenue is Rs. $50{,}000$. If costs are Rs. $30{,}000$, profit is Rs. $20{,}000$. Knowing this helps entrepreneurs manage resources and plan for growth. Other important concepts include budgeting, investment, savings, loans, and interest.