Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 562 · 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 45 friendship bands at ₹15 each. Its costs are ₹100. What is its profit (in ₹)?
2. 2.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
3. 3.A small business sells 37 painted pebbles at ₹50 each. What is its revenue (in ₹)?
4. 4.A small business selling glasses of chai had a revenue of ₹600 and a profit of ₹230. What were its costs (in ₹)?
5. 5.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
6. 6.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
7. 7.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only with adult help (c) yes, no one needed (d) only at night
8. 8.A small business selling paper bookmarks had a revenue of ₹1475 and a profit of ₹665. What were its costs (in ₹)?
9. 9.A small business sells 31 jute bags at ₹35 each. What is its revenue (in ₹)?
10. 10.A small business selling paper bookmarks had a revenue of ₹2160 and a profit of ₹110. What were its costs (in ₹)?
11. 11.A small business sells 60 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
12. 12.A small business sells 23 glasses of chai at ₹5 each. What is its revenue (in ₹)?
13. 13.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
14. 14.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
15. 15.A small business sells 59 cupcakes at ₹40 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
17. 17.A small business sells 15 cupcakes at ₹30 each. Its costs are ₹300. What is its profit (in ₹)?
18. 18.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) simplest to start
19. 19.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
20. 20.A small business sells 42 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
21. 21.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) a separate legal body (d) one owner runs it
22. 22.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
23. 23.A small business sells 18 potted plants at ₹15 each. What is its revenue (in ₹)?
24. 24.Which of these is true of a company? (a) one owner runs it (b) owned by shareholders (c) simplest to start (d) owner keeps all profit
25. 25.A small business sells 44 handmade cards at ₹30 each. What is its revenue (in ₹)?
26. 26.📊 Revenue minus costs equals… (a) stock (b) price (c) profit (d) revenue
27. 27.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
28. 28.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
29. 29.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
30. 30.A small business sells 54 jute bags at ₹5 each. What is its revenue (in ₹)?
31. 31.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
32. 32.A small business sells 48 glasses of chai at ₹30 each. Its costs are ₹30. What is its profit (in ₹)?
33. 33.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owners’ risk is limited (d) owner owes the debts
34. 34.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) one owner runs it (d) owner keeps all profit
35. 35.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
36. 36.A small business selling painted pebbles had a revenue of ₹1140 and a profit of ₹560. What were its costs (in ₹)?
37. 37.A small business sells 18 bags of popcorn at ₹10 each. Its costs are ₹90. What is its profit (in ₹)?
38. 38.True or false: “simplest to start” is true of a company. (a) True (b) False
39. 39.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
40. 40.📊 Revenue or profit: left after all costs? (a) profit (b) revenue

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