Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 16 · 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 16 fruit cups at ₹20 each. Its costs are ₹90. What is its profit (in ₹)?
2. 2.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
3. 3.📊 Revenue minus costs equals… (a) revenue (b) profit (c) price (d) stock
4. 4.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
5. 5.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
6. 6.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) run by directors
7. 7.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
8. 8.A small business sells 40 glasses of chai at ₹45 each. What is its revenue (in ₹)?
9. 9.A small business sells 32 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) simplest to start (d) run by directors
11. 11.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) the government always (d) its customers
12. 12.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
13. 13.True or false: “run by directors” is true of a sole trader. (a) True (b) False
14. 14.A small business sells 35 painted pebbles at ₹30 each. What is its revenue (in ₹)?
15. 15.A small business sells 59 fruit cups at ₹10 each. What is its revenue (in ₹)?
16. 16.A small business selling cups of lemonade had a revenue of ₹390 and a profit of ₹130. What were its costs (in ₹)?
17. 17.A small business selling bags of popcorn had a revenue of ₹115 and a profit of ₹95. What were its costs (in ₹)?
18. 18.A small business sells 24 painted pebbles at ₹10 each. What is its revenue (in ₹)?
19. 19.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
20. 20.A small business selling bags of popcorn had a revenue of ₹2120 and a profit of ₹620. What were its costs (in ₹)?
21. 21.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
22. 22.A small business sells 40 clay diyas at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
23. 23.A small business sells 22 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
24. 24.A small business sells 28 clay diyas at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
25. 25.A small business sells 15 glasses of chai at ₹15 each. Its costs are ₹10. What is its profit (in ₹)?
26. 26.A small business sells 54 bags of popcorn at ₹5 each. Its costs are ₹200. What is its profit (in ₹)?
27. 27.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
28. 28.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owner keeps all profit (d) a separate legal body
29. 29.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
30. 30.A small business selling handmade cards had a revenue of ₹640 and a profit of ₹200. What were its costs (in ₹)?
31. 31.A small business sells 51 potted plants at ₹5 each. Its costs are ₹80. What is its profit (in ₹)?
32. 32.A small business selling handmade cards had a revenue of ₹2160 and a profit of ₹2140. What were its costs (in ₹)?
33. 33.Which of these is true of a company? (a) a separate legal body (b) owner owes the debts (c) owner keeps all profit (d) simplest to start
34. 34.A small business sells 16 painted pebbles at ₹10 each. What is its revenue (in ₹)?
35. 35.A small business sells 16 cupcakes at ₹15 each. Its costs are ₹50. What is its profit (in ₹)?
36. 36.A small business sells 16 cups of lemonade at ₹35 each. Its costs are ₹300. What is its profit (in ₹)?
37. 37.A small business selling potted plants had a revenue of ₹1800 and a profit of ₹1020. What were its costs (in ₹)?
38. 38.A small business sells 40 clay diyas at ₹5 each. What is its revenue (in ₹)?
39. 39.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
40. 40.A small business sells 14 jute bags at ₹20 each. Its costs are ₹90. What is its profit (in ₹)?

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