Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 733 · 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 33 clay diyas at ₹50 each. What is its revenue (in ₹)?
2. 2.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only with adult help (c) only at night (d) yes, no one needed
3. 3.A small business sells 55 cupcakes at ₹35 each. What is its revenue (in ₹)?
4. 4.A small business selling clay diyas had a revenue of ₹600 and a profit of ₹300. What were its costs (in ₹)?
5. 5.A small business sells 42 cupcakes at ₹45 each. What is its revenue (in ₹)?
6. 6.A small business selling glasses of chai had a revenue of ₹510 and a profit of ₹230. What were its costs (in ₹)?
7. 7.Which of these is true of a company? (a) owner owes the debts (b) a separate legal body (c) one owner runs it (d) simplest to start
8. 8.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
9. 9.A small business selling cupcakes had a revenue of ₹590 and a profit of ₹330. What were its costs (in ₹)?
10. 10.True or false: “owner owes the debts” is true of a company. (a) True (b) False
11. 11.A small business sells 55 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
12. 12.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
13. 13.A small business selling cups of lemonade had a revenue of ₹1125 and a profit of ₹285. What were its costs (in ₹)?
14. 14.A small business sells 56 paper bookmarks at ₹25 each. Its costs are ₹300. What is its profit (in ₹)?
15. 15.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) a separate legal body (d) owned by shareholders
16. 16.A small business sells 21 bags of popcorn at ₹30 each. Its costs are ₹230. 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 random video (c) nobody (d) a classmate
18. 18.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) owner keeps all profit (d) one owner runs it
19. 19.Which of these is true of a sole trader? (a) owner owes the debts (b) a separate legal body (c) owners’ risk is limited (d) owned by shareholders
20. 20.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
21. 21.True or false: “a separate legal body” is true of a company. (a) False (b) True
22. 22.A small business sells 30 cupcakes at ₹30 each. What is its revenue (in ₹)?
23. 23.A small business selling handmade cards had a revenue of ₹260 and a profit of ₹180. What were its costs (in ₹)?
24. 24.A small business selling cupcakes had a revenue of ₹850 and a profit of ₹250. What were its costs (in ₹)?
25. 25.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) simplest to start (d) owners’ risk is limited
26. 26.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
27. 27.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
28. 28.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
29. 29.A small business sells 51 cupcakes at ₹30 each. What is its revenue (in ₹)?
30. 30.A small business sells 38 glasses of chai at ₹35 each. What is its revenue (in ₹)?
31. 31.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
32. 32.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
33. 33.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
34. 34.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
35. 35.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
36. 36.True or false: “simplest to start” is true of a company. (a) True (b) False
37. 37.A small business selling friendship bands had a revenue of ₹2385 and a profit of ₹1765. What were its costs (in ₹)?
38. 38.Which of these is true of a company? (a) one owner runs it (b) run by directors (c) owner keeps all profit (d) simplest to start
39. 39.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owned by shareholders (d) simplest to start
40. 40.A small business sells 15 cups of lemonade at ₹20 each. What is its revenue (in ₹)?

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