Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 547 · 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: owner keeps all profit? (a) a sole trader (b) a company
2. 2.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
3. 3.A small business sells 56 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
5. 5.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
6. 6.True or false: “one owner runs it” is true of a company. (a) False (b) True
7. 7.A small business sells 23 potted plants at ₹45 each. What is its revenue (in ₹)?
8. 8.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
9. 9.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) never ever (c) only at night (d) only with adult help
10. 10.A small business sells 30 handmade cards at ₹15 each. Its costs are ₹440. What is its profit (in ₹)?
11. 11.A small business sells 31 cups of lemonade at ₹20 each. Its costs are ₹430. What is its profit (in ₹)?
12. 12.A small business sells 36 cupcakes at ₹50 each. What is its revenue (in ₹)?
13. 13.True or false: “simplest to start” is true of a company. (a) False (b) True
14. 14.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) run by directors (d) owner keeps all profit
15. 15.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
16. 16.A small business sells 50 clay diyas at ₹45 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
18. 18.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
19. 19.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) owner owes the debts (d) simplest to start
20. 20.A small business selling handmade cards had a revenue of ₹1035 and a profit of ₹995. What were its costs (in ₹)?
21. 21.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) a separate legal body (d) owner owes the debts
22. 22.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
23. 23.A small business selling bags of popcorn had a revenue of ₹440 and a profit of ₹180. What were its costs (in ₹)?
24. 24.A small business sells 44 jute bags at ₹5 each. Its costs are ₹210. What is its profit (in ₹)?
25. 25.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
26. 26.A small business sells 42 jute bags at ₹5 each. Its costs are ₹10. What is its profit (in ₹)?
27. 27.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
28. 28.A small business selling fruit cups had a revenue of ₹225 and a profit of ₹175. What were its costs (in ₹)?
29. 29.True or false: “owner owes the debts” is true of a company. (a) False (b) True
30. 30.A small business sells 44 fruit cups at ₹5 each. Its costs are ₹90. What is its profit (in ₹)?
31. 31.A small business sells 39 paper bookmarks at ₹20 each. Its costs are ₹380. What is its profit (in ₹)?
32. 32.A small business sells 14 painted pebbles at ₹35 each. Its costs are ₹430. What is its profit (in ₹)?
33. 33.A small business sells 34 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
34. 34.A small business sells 47 cupcakes at ₹25 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
36. 36.A small business sells 10 glasses of chai at ₹30 each. What is its revenue (in ₹)?
37. 37.A small business sells 37 jute bags at ₹35 each. Its costs are ₹920. What is its profit (in ₹)?
38. 38.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) run by directors (d) owner owes the debts
39. 39.🏢 A company is owned by… (a) its customers (b) its shareholders (c) the government always (d) its suppliers
40. 40.A small business sells 16 clay diyas at ₹10 each. What is its revenue (in ₹)?

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