Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 513 · 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.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
2. 2.A small business sells 23 cups of lemonade at ₹20 each. Its costs are ₹290. What is its profit (in ₹)?
3. 3.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) only at night (d) never ever
4. 4.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
5. 5.A small business sells 51 jute bags at ₹50 each. What is its revenue (in ₹)?
6. 6.A small business sells 21 jute bags at ₹30 each. What is its revenue (in ₹)?
7. 7.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) the government always (d) its customers
8. 8.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
9. 9.A small business sells 22 handmade cards at ₹40 each. Its costs are ₹500. What is its profit (in ₹)?
10. 10.A small business sells 45 handmade cards at ₹25 each. What is its revenue (in ₹)?
11. 11.A small business sells 16 glasses of chai at ₹45 each. Its costs are ₹330. What is its profit (in ₹)?
12. 12.📜 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
13. 13.A small business selling clay diyas had a revenue of ₹595 and a profit of ₹525. What were its costs (in ₹)?
14. 14.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
15. 15.A small business sells 46 potted plants at ₹5 each. Its costs are ₹100. What is its profit (in ₹)?
16. 16.A small business selling cupcakes had a revenue of ₹110 and a profit of ₹90. What were its costs (in ₹)?
17. 17.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) a separate legal body (d) owner owes the debts
18. 18.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner owes the debts (d) run by directors
19. 19.A small business selling handmade cards had a revenue of ₹155 and a profit of ₹65. What were its costs (in ₹)?
20. 20.A small business sells 37 cups of lemonade at ₹45 each. Its costs are ₹80. What is its profit (in ₹)?
21. 21.A small business selling cupcakes had a revenue of ₹580 and a profit of ₹100. What were its costs (in ₹)?
22. 22.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
23. 23.True or false: “owner owes the debts” is true of a company. (a) False (b) True
24. 24.A small business selling cupcakes had a revenue of ₹510 and a profit of ₹390. What were its costs (in ₹)?
25. 25.A small business sells 27 cupcakes at ₹15 each. What is its revenue (in ₹)?
26. 26.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
27. 27.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
28. 28.A small business sells 51 jute bags at ₹45 each. Its costs are ₹1900. What is its profit (in ₹)?
29. 29.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
30. 30.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
31. 31.A small business sells 60 handmade cards at ₹30 each. Its costs are ₹1440. What is its profit (in ₹)?
32. 32.A small business sells 17 bags of popcorn at ₹35 each. Its costs are ₹140. What is its profit (in ₹)?
33. 33.A small business selling clay diyas had a revenue of ₹295 and a profit of ₹225. What were its costs (in ₹)?
34. 34.A small business sells 57 jute bags at ₹15 each. Its costs are ₹60. What is its profit (in ₹)?
35. 35.A small business selling paper bookmarks had a revenue of ₹345 and a profit of ₹135. What were its costs (in ₹)?
36. 36.A small business sells 50 potted plants at ₹5 each. What is its revenue (in ₹)?
37. 37.A small business sells 59 jute bags at ₹5 each. What is its revenue (in ₹)?
38. 38.A small business sells 21 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
39. 39.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
40. 40.A small business selling bags of popcorn had a revenue of ₹570 and a profit of ₹220. What were its costs (in ₹)?

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