Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 73 · 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 42 glasses of chai at ₹15 each. Its costs are ₹570. What is its profit (in ₹)?
2. 2.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
3. 3.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) never ever (c) only with adult help (d) only at night
4. 4.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
5. 5.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
6. 6.True or false: “run by directors” is true of a company. (a) True (b) False
7. 7.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
8. 8.A small business sells 36 bags of popcorn at ₹25 each. Its costs are ₹60. What is its profit (in ₹)?
9. 9.A small business sells 26 jute bags at ₹20 each. What is its revenue (in ₹)?
10. 10.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
11. 11.A small business sells 17 cups of lemonade at ₹25 each. What is its revenue (in ₹)?
12. 12.A small business sells 51 potted plants at ₹10 each. What is its revenue (in ₹)?
13. 13.A small business sells 16 glasses of chai at ₹40 each. What is its revenue (in ₹)?
14. 14.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a classmate (d) a random video
15. 15.A small business selling cupcakes had a revenue of ₹975 and a profit of ₹255. What were its costs (in ₹)?
16. 16.A small business sells 23 bags of popcorn at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
17. 17.A small business sells 32 cups of lemonade at ₹25 each. What is its revenue (in ₹)?
18. 18.Which of these is true of a sole trader? (a) simplest to start (b) run by directors (c) owned by shareholders (d) a separate legal body
19. 19.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) owner owes the debts
20. 20.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
21. 21.A small business selling handmade cards had a revenue of ₹1435 and a profit of ₹615. What were its costs (in ₹)?
22. 22.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
23. 23.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
24. 24.A small business selling paper bookmarks had a revenue of ₹2650 and a profit of ₹310. What were its costs (in ₹)?
25. 25.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
26. 26.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
27. 27.A small business sells 32 clay diyas at ₹25 each. What is its revenue (in ₹)?
28. 28.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) run by directors
29. 29.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owner owes the debts (d) a separate legal body
30. 30.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
31. 31.A small business sells 34 painted pebbles at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
32. 32.A small business sells 13 handmade cards at ₹45 each. What is its revenue (in ₹)?
33. 33.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
34. 34.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
35. 35.A small business sells 48 glasses of chai at ₹25 each. Its costs are ₹1060. What is its profit (in ₹)?
36. 36.A small business sells 47 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
37. 37.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) owned by shareholders
38. 38.Which of these is true of a sole trader? (a) a separate legal body (b) owner owes the debts (c) run by directors (d) owned by shareholders
39. 39.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
40. 40.A small business sells 10 friendship bands at ₹20 each. Its costs are ₹160. What is its profit (in ₹)?

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