Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 633 · 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 selling painted pebbles had a revenue of ₹1960 and a profit of ₹1860. What were its costs (in ₹)?
2. 2.A small business sells 16 potted plants at ₹25 each. What is its revenue (in ₹)?
3. 3.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
4. 4.A small business sells 19 potted plants at ₹25 each. What is its revenue (in ₹)?
5. 5.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
6. 6.🎂 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
7. 7.📊 Revenue minus costs equals… (a) stock (b) revenue (c) price (d) profit
8. 8.A small business sells 11 cupcakes at ₹50 each. What is its revenue (in ₹)?
9. 9.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
10. 10.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
11. 11.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
12. 12.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
13. 13.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a school club (d) a big company
14. 14.A small business sells 24 paper bookmarks at ₹15 each. Its costs are ₹340. What is its profit (in ₹)?
15. 15.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
16. 16.A small business sells 28 bags of popcorn at ₹35 each. Its costs are ₹370. What is its profit (in ₹)?
17. 17.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) a random video (d) nobody
18. 18.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
19. 19.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owners’ risk is limited (d) owner keeps all profit
20. 20.A small business sells 22 handmade cards at ₹25 each. Its costs are ₹20. What is its profit (in ₹)?
21. 21.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
22. 22.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
23. 23.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
24. 24.A small business selling bags of popcorn had a revenue of ₹1080 and a profit of ₹700. What were its costs (in ₹)?
25. 25.A small business sells 37 jute bags at ₹15 each. What is its revenue (in ₹)?
26. 26.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
27. 27.A small business selling fruit cups had a revenue of ₹350 and a profit of ₹140. What were its costs (in ₹)?
28. 28.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
29. 29.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) run by directors (d) one owner runs it
30. 30.A small business selling handmade cards had a revenue of ₹2280 and a profit of ₹2100. What were its costs (in ₹)?
31. 31.A small business selling friendship bands had a revenue of ₹110 and a profit of ₹70. What were its costs (in ₹)?
32. 32.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) simplest to start (d) run by directors
33. 33.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
34. 34.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) owned by shareholders (d) one owner runs it
35. 35.A small business sells 10 painted pebbles at ₹20 each. Its costs are ₹180. What is its profit (in ₹)?
36. 36.True or false: “owner owes the debts” is true of a company. (a) True (b) False
37. 37.A small business sells 49 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
38. 38.A small business sells 19 bags of popcorn at ₹30 each. What is its revenue (in ₹)?
39. 39.A small business sells 22 potted plants at ₹5 each. What is its revenue (in ₹)?
40. 40.A small business sells 22 painted pebbles at ₹15 each. Its costs are ₹210. What is its profit (in ₹)?

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