Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 812 · 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 14 painted pebbles at ₹15 each. What is its revenue (in ₹)?
2. 2.A small business sells 48 painted pebbles at ₹25 each. What is its revenue (in ₹)?
3. 3.A small business sells 44 cups of lemonade at ₹35 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
5. 5.A small business sells 14 bags of popcorn at ₹50 each. Its costs are ₹20. What is its profit (in ₹)?
6. 6.Which of these is true of a company? (a) simplest to start (b) a separate legal body (c) one owner runs it (d) owner owes the debts
7. 7.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
8. 8.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
9. 9.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
10. 10.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
11. 11.A small business sells 41 painted pebbles at ₹50 each. Its costs are ₹660. What is its profit (in ₹)?
12. 12.A small business selling glasses of chai had a revenue of ₹500 and a profit of ₹70. What were its costs (in ₹)?
13. 13.A small business selling fruit cups had a revenue of ₹240 and a profit of ₹120. What were its costs (in ₹)?
14. 14.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a bank (d) a big company
15. 15.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
16. 16.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
17. 17.A small business selling handmade cards had a revenue of ₹765 and a profit of ₹295. What were its costs (in ₹)?
18. 18.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its shareholders (d) its customers
19. 19.A small business sells 34 cupcakes at ₹5 each. Its costs are ₹90. What is its profit (in ₹)?
20. 20.A small business sells 24 glasses of chai at ₹40 each. What is its revenue (in ₹)?
21. 21.📊 Revenue minus costs equals… (a) stock (b) revenue (c) price (d) profit
22. 22.A small business sells 53 glasses of chai at ₹15 each. Its costs are ₹650. What is its profit (in ₹)?
23. 23.A small business sells 22 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
24. 24.A small business sells 11 friendship bands at ₹30 each. What is its revenue (in ₹)?
25. 25.A small business sells 60 handmade cards at ₹30 each. What is its revenue (in ₹)?
26. 26.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner owes the debts (d) owners’ risk is limited
27. 27.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) never ever (d) yes, no one needed
28. 28.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
29. 29.A small business sells 37 potted plants at ₹35 each. What is its revenue (in ₹)?
30. 30.A small business sells 40 potted plants at ₹25 each. Its costs are ₹70. What is its profit (in ₹)?
31. 31.A small business sells 52 friendship bands at ₹35 each. Its costs are ₹350. What is its profit (in ₹)?
32. 32.A small business sells 60 paper bookmarks at ₹45 each. Its costs are ₹1260. What is its profit (in ₹)?
33. 33.A small business sells 10 handmade cards at ₹20 each. What is its revenue (in ₹)?
34. 34.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
35. 35.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) simplest to start (d) owned by shareholders
36. 36.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
37. 37.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) owner keeps all profit (d) simplest to start
38. 38.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
39. 39.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owner owes the debts (d) owned by shareholders
40. 40.A small business selling painted pebbles had a revenue of ₹450 and a profit of ₹270. What were its costs (in ₹)?

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