Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 199 · 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 45 jute bags at ₹40 each. What is its revenue (in ₹)?
2. 2.Which of these is true of a sole trader? (a) run by directors (b) one owner runs it (c) owners’ risk is limited (d) a separate legal body
3. 3.A small business sells 26 glasses of chai at ₹40 each. What is its revenue (in ₹)?
4. 4.A small business sells 39 clay diyas at ₹35 each. Its costs are ₹1340. What is its profit (in ₹)?
5. 5.A small business sells 16 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
6. 6.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
7. 7.A small business sells 19 glasses of chai at ₹40 each. What is its revenue (in ₹)?
8. 8.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
9. 9.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
10. 10.A small business sells 56 handmade cards at ₹20 each. What is its revenue (in ₹)?
11. 11.True or false: “simplest to start” is true of a company. (a) True (b) False
12. 12.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
13. 13.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
14. 14.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
15. 15.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
16. 16.A small business sells 22 clay diyas at ₹15 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
18. 18.A small business sells 28 painted pebbles at ₹25 each. Its costs are ₹420. What is its profit (in ₹)?
19. 19.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
20. 20.A small business sells 56 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
21. 21.A small business sells 24 fruit cups at ₹45 each. Its costs are ₹850. What is its profit (in ₹)?
22. 22.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) a separate legal body (d) owner keeps all profit
23. 23.A small business sells 52 handmade cards at ₹35 each. What is its revenue (in ₹)?
24. 24.A small business sells 23 friendship bands at ₹5 each. What is its revenue (in ₹)?
25. 25.A small business sells 51 glasses of chai at ₹35 each. What is its revenue (in ₹)?
26. 26.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
27. 27.True or false: “one owner runs it” is true of a company. (a) False (b) True
28. 28.A small business sells 45 friendship bands at ₹5 each. What is its revenue (in ₹)?
29. 29.A small business selling potted plants had a revenue of ₹2430 and a profit of ₹1100. What were its costs (in ₹)?
30. 30.A small business sells 36 fruit cups at ₹40 each. What is its revenue (in ₹)?
31. 31.A small business selling handmade cards had a revenue of ₹455 and a profit of ₹205. What were its costs (in ₹)?
32. 32.A small business selling fruit cups had a revenue of ₹560 and a profit of ₹130. What were its costs (in ₹)?
33. 33.A small business selling friendship bands had a revenue of ₹160 and a profit of ₹120. What were its costs (in ₹)?
34. 34.A small business selling cups of lemonade had a revenue of ₹1075 and a profit of ₹215. What were its costs (in ₹)?
35. 35.Which of these is true of a company? (a) owner keeps all profit (b) owners’ risk is limited (c) owner owes the debts (d) one owner runs it
36. 36.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
37. 37.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) owner owes the debts (d) owned by shareholders
38. 38.🏢 A company is owned by… (a) its customers (b) its suppliers (c) the government always (d) its shareholders
39. 39.True or false: “run by directors” is true of a sole trader. (a) False (b) True
40. 40.A small business sells 15 cups of lemonade at ₹15 each. Its costs are ₹30. What is its profit (in ₹)?

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