Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 10 · 40 questions

Business tip (Revenue in, profit left): Sole trader: one owner, keeps all the profit, owes the debts, simplest to start. Company: a separate legal body, owned by shareholders, run by directors, owners’ risk limited. Revenue = price × number sold. Profit = revenue − costs, so costs = revenue − profit. Teens run a business with adult help; tax and legal questions go to an adult or an expert.

1. 1.A small business sells 37 paper bookmarks at ₹25 each. Its costs are ₹90. What is its profit (in ₹)?
2. 2.A small business selling handmade cards had a revenue of ₹360 and a profit of ₹250. What were its costs (in ₹)?
3. 3.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owner keeps all profit (d) owners’ risk is limited
4. 4.A small business sells 26 potted plants at ₹40 each. Its costs are ₹790. What is its profit (in ₹)?
5. 5.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a random video (c) a classmate (d) nobody
6. 6.True or false: “a separate legal body” is true of a company. (a) True (b) False
7. 7.A small business sells 17 glasses of chai at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
8. 8.A small business selling friendship bands had a revenue of ₹595 and a profit of ₹375. What were its costs (in ₹)?
9. 9.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
10. 10.A small business sells 25 cups of lemonade at ₹5 each. Its costs are ₹100. What is its profit (in ₹)?
11. 11.Which of these is true of a company? (a) a separate legal body (b) owner owes the debts (c) one owner runs it (d) simplest to start
12. 12.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
13. 13.A small business sells 59 glasses of chai at ₹15 each. What is its revenue (in ₹)?
14. 14.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owner owes the debts (d) a separate legal body
15. 15.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
16. 16.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
17. 17.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) simplest to start (d) one owner runs it
18. 18.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) owners’ risk is limited (d) a separate legal body
19. 19.True or false: “run by directors” is true of a sole trader. (a) True (b) False
20. 20.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
21. 21.📊 Revenue minus costs equals… (a) stock (b) revenue (c) profit (d) price
22. 22.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
23. 23.A small business selling jute bags had a revenue of ₹210 and a profit of ₹200. What were its costs (in ₹)?
24. 24.A small business sells 37 painted pebbles at ₹10 each. What is its revenue (in ₹)?
25. 25.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
26. 26.A small business sells 44 clay diyas at ₹10 each. Its costs are ₹120. What is its profit (in ₹)?
27. 27.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) never ever (c) only at night (d) yes, no one needed
28. 28.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
29. 29.A small business sells 12 clay diyas at ₹20 each. Its costs are ₹50. What is its profit (in ₹)?
30. 30.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
31. 31.A small business sells 24 jute bags at ₹5 each. Its costs are ₹90. What is its profit (in ₹)?
32. 32.True or false: “run by directors” is true of a company. (a) False (b) True
33. 33.A small business sells 55 painted pebbles at ₹20 each. Its costs are ₹160. What is its profit (in ₹)?
34. 34.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
35. 35.A small business sells 54 jute bags at ₹30 each. What is its revenue (in ₹)?
36. 36.True or false: “owner owes the debts” is true of a company. (a) True (b) False
37. 37.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
38. 38.A small business sells 17 clay diyas at ₹20 each. What is its revenue (in ₹)?
39. 39.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
40. 40.A small business sells 19 jute bags at ₹40 each. Its costs are ₹40. What is its profit (in ₹)?

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