Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 49 · 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 31 paper bookmarks at ₹15 each. Its costs are ₹210. What is its profit (in ₹)?
2. 2.A small business selling painted pebbles had a revenue of ₹615 and a profit of ₹115. What were its costs (in ₹)?
3. 3.A small business sells 26 handmade cards at ₹5 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
5. 5.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
6. 6.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
7. 7.A small business sells 22 handmade cards at ₹10 each. What is its revenue (in ₹)?
8. 8.👤 A sole trader is… (a) a school club (b) a big company (c) a one-owner business (d) a bank
9. 9.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) a random video (d) an adult or an expert
10. 10.A small business sells 57 potted plants at ₹10 each. Its costs are ₹420. What is its profit (in ₹)?
11. 11.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) simplest to start (d) owner owes the debts
12. 12.A small business sells 54 painted pebbles at ₹30 each. Its costs are ₹1310. What is its profit (in ₹)?
13. 13.A small business sells 11 painted pebbles at ₹30 each. What is its revenue (in ₹)?
14. 14.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) run by directors (d) owner owes the debts
15. 15.Which of these is true of a sole trader? (a) simplest to start (b) owners’ risk is limited (c) run by directors (d) a separate legal body
16. 16.A small business selling painted pebbles had a revenue of ₹1200 and a profit of ₹450. What were its costs (in ₹)?
17. 17.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
18. 18.True or false: “owned by shareholders” is true of a company. (a) True (b) False
19. 19.📊 Revenue minus costs equals… (a) profit (b) price (c) stock (d) revenue
20. 20.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
21. 21.A small business selling handmade cards had a revenue of ₹750 and a profit of ₹630. What were its costs (in ₹)?
22. 22.A small business selling painted pebbles had a revenue of ₹80 and a profit of ₹60. What were its costs (in ₹)?
23. 23.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
24. 24.🎂 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
25. 25.A small business sells 22 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
26. 26.A small business sells 48 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
27. 27.A small business sells 12 jute bags at ₹30 each. Its costs are ₹80. What is its profit (in ₹)?
28. 28.A small business selling potted plants had a revenue of ₹600 and a profit of ₹240. What were its costs (in ₹)?
29. 29.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
30. 30.A small business selling cupcakes had a revenue of ₹1155 and a profit of ₹385. What were its costs (in ₹)?
31. 31.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
32. 32.A small business selling paper bookmarks had a revenue of ₹455 and a profit of ₹405. What were its costs (in ₹)?
33. 33.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
34. 34.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
35. 35.A small business sells 44 friendship bands at ₹45 each. Its costs are ₹1170. What is its profit (in ₹)?
36. 36.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
37. 37.True or false: “one owner runs it” is true of a company. (a) False (b) True
38. 38.A small business sells 56 friendship bands at ₹15 each. Its costs are ₹540. What is its profit (in ₹)?
39. 39.True or false: “simplest to start” is true of a company. (a) True (b) False
40. 40.📊 Revenue or profit: price × number sold? (a) revenue (b) profit

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