The number of students willing to donate blood or serve breakfast is the cardinal number of the union of the sets.
Let:
A = {students willing to donate blood}
B = {students willing to serve breakfast}
|A| = 490
|B| = 340
|A ∩ B| = 120
By the formula:
|A ∪ B| = |A| + |B| - |A ∩ B|
= 490 + 340 - 120
= 710
Therefore, the number of students willing to donate blood or serve breakfast is 710.