Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 2 · 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 23 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
2. 2.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
3. 3.A small business sells 37 handmade cards at ₹50 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
5. 5.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
6. 6.A small business sells 28 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
7. 7.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
8. 8.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) a classmate (d) an adult or an expert
9. 9.Which of these is true of a company? (a) simplest to start (b) run by directors (c) one owner runs it (d) owner keeps all profit
10. 10.A small business sells 38 fruit cups at ₹20 each. Its costs are ₹100. What is its profit (in ₹)?
11. 11.A small business selling potted plants had a revenue of ₹520 and a profit of ₹90. What were its costs (in ₹)?
12. 12.A small business sells 14 potted plants at ₹15 each. What is its revenue (in ₹)?
13. 13.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owner owes the debts (d) owners’ risk is limited
14. 14.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
15. 15.A small business selling cupcakes had a revenue of ₹180 and a profit of ₹150. What were its costs (in ₹)?
16. 16.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
17. 17.A small business sells 13 clay diyas at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
18. 18.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
19. 19.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its suppliers (d) its customers
20. 20.A small business selling cupcakes had a revenue of ₹630 and a profit of ₹330. What were its costs (in ₹)?
21. 21.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owned by shareholders (d) owner keeps all profit
22. 22.A small business selling friendship bands had a revenue of ₹720 and a profit of ₹430. What were its costs (in ₹)?
23. 23.A small business sells 27 painted pebbles at ₹45 each. Its costs are ₹450. What is its profit (in ₹)?
24. 24.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
25. 25.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) one owner runs it (d) owned by shareholders
26. 26.A small business sells 33 glasses of chai at ₹10 each. What is its revenue (in ₹)?
27. 27.A small business sells 31 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
28. 28.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
29. 29.A small business sells 36 bags of popcorn at ₹40 each. Its costs are ₹990. What is its profit (in ₹)?
30. 30.True or false: “simplest to start” is true of a company. (a) True (b) False
31. 31.A small business sells 15 clay diyas at ₹45 each. Its costs are ₹130. What is its profit (in ₹)?
32. 32.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) run by directors (d) simplest to start
33. 33.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
34. 34.A small business sells 43 clay diyas at ₹30 each. What is its revenue (in ₹)?
35. 35.A small business sells 16 cupcakes at ₹5 each. What is its revenue (in ₹)?
36. 36.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a bank (d) a school club
37. 37.A small business sells 44 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
38. 38.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
39. 39.A small business sells 22 jute bags at ₹25 each. Its costs are ₹440. What is its profit (in ₹)?
40. 40.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) a separate legal body

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