Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 764 · 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.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
2. 2.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
3. 3.A small business sells 54 potted plants at ₹45 each. Its costs are ₹580. What is its profit (in ₹)?
4. 4.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) simplest to start (d) run by directors
5. 5.🏢 A company is owned by… (a) its customers (b) its suppliers (c) the government always (d) its shareholders
6. 6.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
7. 7.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) a separate legal body (d) simplest to start
8. 8.A small business sells 50 glasses of chai at ₹20 each. Its costs are ₹80. What is its profit (in ₹)?
9. 9.A small business selling handmade cards had a revenue of ₹540 and a profit of ₹150. What were its costs (in ₹)?
10. 10.A small business sells 48 bags of popcorn at ₹40 each. Its costs are ₹820. What is its profit (in ₹)?
11. 11.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
12. 12.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
13. 13.A small business selling friendship bands had a revenue of ₹1950 and a profit of ₹280. What were its costs (in ₹)?
14. 14.True or false: “one owner runs it” is true of a company. (a) False (b) True
15. 15.A small business sells 26 handmade cards at ₹10 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
17. 17.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) one owner runs it (d) a separate legal body
18. 18.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) never ever (d) only at night
19. 19.A small business selling bags of popcorn had a revenue of ₹880 and a profit of ₹290. What were its costs (in ₹)?
20. 20.Which of these is true of a company? (a) run by directors (b) simplest to start (c) one owner runs it (d) owner owes the debts
21. 21.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
22. 22.A small business sells 43 fruit cups at ₹40 each. What is its revenue (in ₹)?
23. 23.A small business sells 36 fruit cups at ₹30 each. Its costs are ₹210. What is its profit (in ₹)?
24. 24.True or false: “simplest to start” is true of a company. (a) False (b) True
25. 25.A small business selling glasses of chai had a revenue of ₹780 and a profit of ₹350. What were its costs (in ₹)?
26. 26.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owner keeps all profit (d) owners’ risk is limited
27. 27.A small business sells 13 glasses of chai at ₹50 each. Its costs are ₹330. What is its profit (in ₹)?
28. 28.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
29. 29.A small business sells 22 cups of lemonade at ₹20 each. Its costs are ₹60. What is its profit (in ₹)?
30. 30.A small business sells 23 paper bookmarks at ₹25 each. Its costs are ₹120. What is its profit (in ₹)?
31. 31.True or false: “run by directors” is true of a sole trader. (a) True (b) False
32. 32.A small business selling glasses of chai had a revenue of ₹220 and a profit of ₹160. What were its costs (in ₹)?
33. 33.A small business sells 53 handmade cards at ₹10 each. What is its revenue (in ₹)?
34. 34.A small business selling bags of popcorn had a revenue of ₹725 and a profit of ₹535. What were its costs (in ₹)?
35. 35.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
36. 36.A small business sells 31 bags of popcorn at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
37. 37.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) run by directors (d) owner owes the debts
38. 38.True or false: “owned by shareholders” is true of a company. (a) True (b) False
39. 39.A small business selling fruit cups had a revenue of ₹500 and a profit of ₹180. What were its costs (in ₹)?
40. 40.A small business sells 12 glasses of chai at ₹50 each. What is its revenue (in ₹)?

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