Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 786 · 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.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) a separate legal body (d) owners’ risk is limited
2. 2.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) a separate legal body (d) owner keeps all profit
3. 3.A small business sells 43 jute bags at ₹15 each. Its costs are ₹80. What is its profit (in ₹)?
4. 4.A small business sells 10 cups of lemonade at ₹30 each. What is its revenue (in ₹)?
5. 5.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) yes, no one needed (d) only with adult help
6. 6.A small business sells 13 clay diyas at ₹25 each. What is its revenue (in ₹)?
7. 7.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
8. 8.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owned by shareholders (d) a separate legal body
9. 9.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
10. 10.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) a random video (d) an adult or an expert
11. 11.A small business sells 50 cupcakes at ₹50 each. What is its revenue (in ₹)?
12. 12.A small business selling fruit cups had a revenue of ₹680 and a profit of ₹80. What were its costs (in ₹)?
13. 13.A small business sells 30 fruit cups at ₹30 each. What is its revenue (in ₹)?
14. 14.A small business sells 47 friendship bands at ₹35 each. What is its revenue (in ₹)?
15. 15.A small business sells 13 handmade cards at ₹40 each. Its costs are ₹430. What is its profit (in ₹)?
16. 16.True or false: “one owner runs it” is true of a company. (a) False (b) True
17. 17.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
18. 18.A small business sells 17 friendship bands at ₹25 each. What is its revenue (in ₹)?
19. 19.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
20. 20.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
21. 21.A small business selling bags of popcorn had a revenue of ₹390 and a profit of ₹300. What were its costs (in ₹)?
22. 22.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
23. 23.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
24. 24.A small business sells 16 cupcakes at ₹20 each. What is its revenue (in ₹)?
25. 25.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner keeps all profit (c) a separate legal body (d) owned by shareholders
26. 26.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
27. 27.A small business selling paper bookmarks had a revenue of ₹1400 and a profit of ₹90. What were its costs (in ₹)?
28. 28.A small business selling cupcakes had a revenue of ₹1120 and a profit of ₹700. What were its costs (in ₹)?
29. 29.A small business selling clay diyas had a revenue of ₹1485 and a profit of ₹145. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
31. 31.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
32. 32.A small business selling bags of popcorn had a revenue of ₹65 and a profit of ₹15. What were its costs (in ₹)?
33. 33.A small business sells 13 handmade cards at ₹15 each. Its costs are ₹160. What is its profit (in ₹)?
34. 34.A small business sells 35 painted pebbles at ₹10 each. What is its revenue (in ₹)?
35. 35.A small business sells 19 glasses of chai at ₹40 each. What is its revenue (in ₹)?
36. 36.A small business selling fruit cups had a revenue of ₹910 and a profit of ₹420. What were its costs (in ₹)?
37. 37.A small business sells 23 handmade cards at ₹35 each. What is its revenue (in ₹)?
38. 38.A small business sells 41 bags of popcorn at ₹45 each. Its costs are ₹380. What is its profit (in ₹)?
39. 39.A small business sells 11 cupcakes at ₹30 each. Its costs are ₹270. What is its profit (in ₹)?
40. 40.A small business sells 39 glasses of chai at ₹15 each. What is its revenue (in ₹)?

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