Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 317 · 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 60 handmade cards at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
2. 2.A small business sells 53 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
3. 3.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a big company (d) a bank
4. 4.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
5. 5.Which of these is true of a company? (a) owners’ risk is limited (b) owner owes the debts (c) simplest to start (d) one owner runs it
6. 6.🎂 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
7. 7.True or false: “owned by shareholders” is true of a company. (a) True (b) False
8. 8.A small business sells 26 clay diyas at ₹20 each. Its costs are ₹140. What is its profit (in ₹)?
9. 9.A small business sells 22 painted pebbles at ₹20 each. Its costs are ₹220. What is its profit (in ₹)?
10. 10.📊 Revenue minus costs equals… (a) stock (b) revenue (c) profit (d) price
11. 11.A small business selling cups of lemonade had a revenue of ₹1170 and a profit of ₹320. What were its costs (in ₹)?
12. 12.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
13. 13.A small business selling fruit cups had a revenue of ₹520 and a profit of ₹270. What were its costs (in ₹)?
14. 14.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
15. 15.A small business sells 28 handmade cards at ₹5 each. What is its revenue (in ₹)?
16. 16.A small business sells 48 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
17. 17.A small business sells 43 fruit cups at ₹25 each. Its costs are ₹310. What is its profit (in ₹)?
18. 18.A small business sells 34 painted pebbles at ₹5 each. Its costs are ₹150. What is its profit (in ₹)?
19. 19.True or false: “one owner runs it” is true of a company. (a) False (b) True
20. 20.A small business sells 20 cupcakes at ₹5 each. Its costs are ₹60. What is its profit (in ₹)?
21. 21.True or false: “owner owes the debts” is true of a company. (a) False (b) True
22. 22.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
23. 23.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) nobody (d) an adult or an expert
24. 24.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
25. 25.True or false: “run by directors” is true of a sole trader. (a) True (b) False
26. 26.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) run by directors (d) owner owes the debts
27. 27.True or false: “a separate legal body” is true of a company. (a) True (b) False
28. 28.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) a separate legal body (d) owned by shareholders
29. 29.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
30. 30.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
31. 31.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
32. 32.A small business sells 38 fruit cups at ₹20 each. What is its revenue (in ₹)?
33. 33.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) a separate legal body (d) owned by shareholders
34. 34.A small business selling potted plants had a revenue of ₹2070 and a profit of ₹330. What were its costs (in ₹)?
35. 35.A small business sells 55 potted plants at ₹40 each. Its costs are ₹1730. What is its profit (in ₹)?
36. 36.A small business selling cups of lemonade had a revenue of ₹340 and a profit of ₹130. What were its costs (in ₹)?
37. 37.A small business sells 30 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
38. 38.A small business selling potted plants had a revenue of ₹945 and a profit of ₹645. What were its costs (in ₹)?
39. 39.A small business sells 18 glasses of chai at ₹30 each. What is its revenue (in ₹)?
40. 40.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader

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