Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 570 · 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 54 clay diyas at ₹25 each. What is its revenue (in ₹)?
2. 2.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
3. 3.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
4. 4.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
5. 5.A small business selling fruit cups had a revenue of ₹780 and a profit of ₹590. What were its costs (in ₹)?
6. 6.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
7. 7.A small business sells 42 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
8. 8.A small business selling clay diyas had a revenue of ₹1600 and a profit of ₹510. What were its costs (in ₹)?
9. 9.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
10. 10.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
11. 11.Which of these is true of a company? (a) simplest to start (b) owners’ risk is limited (c) owner owes the debts (d) owner keeps all profit
12. 12.Which of these is true of a company? (a) run by directors (b) owner owes the debts (c) one owner runs it (d) simplest to start
13. 13.Which of these is true of a sole trader? (a) simplest to start (b) owned by shareholders (c) a separate legal body (d) run by directors
14. 14.True or false: “one owner runs it” is true of a company. (a) True (b) False
15. 15.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
16. 16.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
17. 17.A small business sells 24 handmade cards at ₹35 each. Its costs are ₹560. What is its profit (in ₹)?
18. 18.A small business sells 41 clay diyas at ₹35 each. Its costs are ₹130. What is its profit (in ₹)?
19. 19.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
20. 20.A small business sells 51 cupcakes at ₹20 each. Its costs are ₹910. What is its profit (in ₹)?
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) a separate legal body (d) run by directors
22. 22.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) one owner runs it (d) a separate legal body
23. 23.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
24. 24.A small business sells 34 bags of popcorn at ₹30 each. What is its revenue (in ₹)?
25. 25.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) never ever (c) yes, no one needed (d) only at night
26. 26.A small business sells 52 glasses of chai at ₹50 each. What is its revenue (in ₹)?
27. 27.Which of these is true of a sole trader? (a) owner owes the debts (b) a separate legal body (c) owned by shareholders (d) owners’ risk is limited
28. 28.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
29. 29.A small business sells 15 jute bags at ₹20 each. Its costs are ₹240. What is its profit (in ₹)?
30. 30.A small business sells 43 jute bags at ₹5 each. What is its revenue (in ₹)?
31. 31.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) one owner runs it
32. 32.A small business sells 46 bags of popcorn at ₹10 each. Its costs are ₹370. What is its profit (in ₹)?
33. 33.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
34. 34.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
35. 35.A small business sells 45 bags of popcorn at ₹10 each. Its costs are ₹50. What is its profit (in ₹)?
36. 36.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
37. 37.A small business selling fruit cups had a revenue of ₹900 and a profit of ₹800. What were its costs (in ₹)?
38. 38.True or false: “a separate legal body” is true of a company. (a) False (b) True
39. 39.A small business sells 41 cups of lemonade at ₹30 each. What is its revenue (in ₹)?
40. 40.A small business sells 39 potted plants at ₹50 each. What is its revenue (in ₹)?

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