Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 262 · 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 28 glasses of chai at ₹20 each. What is its revenue (in ₹)?
2. 2.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
3. 3.A small business sells 60 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
4. 4.A small business sells 32 fruit cups at ₹35 each. Its costs are ₹140. What is its profit (in ₹)?
5. 5.A small business sells 34 glasses of chai at ₹40 each. Its costs are ₹130. What is its profit (in ₹)?
6. 6.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
7. 7.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner keeps all profit (c) run by directors (d) a separate legal body
8. 8.True or false: “one owner runs it” is true of a company. (a) False (b) True
9. 9.A small business selling clay diyas had a revenue of ₹1240 and a profit of ₹960. What were its costs (in ₹)?
10. 10.A small business selling jute bags had a revenue of ₹925 and a profit of ₹455. What were its costs (in ₹)?
11. 11.A small business sells 39 cupcakes at ₹40 each. Its costs are ₹1330. What is its profit (in ₹)?
12. 12.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
13. 13.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
14. 14.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
15. 15.A small business selling fruit cups had a revenue of ₹2400 and a profit of ₹1530. What were its costs (in ₹)?
16. 16.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owner keeps all profit (d) a separate legal body
17. 17.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
18. 18.A small business sells 25 jute bags at ₹35 each. What is its revenue (in ₹)?
19. 19.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
20. 20.A small business sells 14 potted plants at ₹20 each. Its costs are ₹230. What is its profit (in ₹)?
21. 21.A small business sells 50 jute bags at ₹50 each. What is its revenue (in ₹)?
22. 22.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) yes, no one needed (d) never ever
23. 23.📊 Revenue minus costs equals… (a) stock (b) profit (c) price (d) revenue
24. 24.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
25. 25.A small business sells 22 painted pebbles at ₹40 each. What is its revenue (in ₹)?
26. 26.A small business selling cupcakes had a revenue of ₹270 and a profit of ₹90. What were its costs (in ₹)?
27. 27.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
28. 28.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) one owner runs it (d) simplest to start
29. 29.A small business sells 19 potted plants at ₹15 each. Its costs are ₹40. What is its profit (in ₹)?
30. 30.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) run by directors (d) one owner runs it
31. 31.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
32. 32.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
33. 33.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
34. 34.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
35. 35.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
36. 36.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
37. 37.🏢 A company is owned by… (a) its shareholders (b) the government always (c) its customers (d) its suppliers
38. 38.A small business sells 51 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
39. 39.A small business selling glasses of chai had a revenue of ₹1410 and a profit of ₹1040. What were its costs (in ₹)?
40. 40.A small business sells 60 paper bookmarks at ₹25 each. Its costs are ₹1180. What is its profit (in ₹)?

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