Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 883 · 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 minus costs equals… (a) price (b) profit (c) stock (d) revenue
2. 2.A small business sells 29 cupcakes at ₹10 each. What is its revenue (in ₹)?
3. 3.True or false: “run by directors” is true of a sole trader. (a) False (b) True
4. 4.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
5. 5.A small business sells 10 painted pebbles at ₹20 each. What is its revenue (in ₹)?
6. 6.True or false: “owned by shareholders” is true of a company. (a) False (b) True
7. 7.🏢 Sole trader or company: owner owes the debts? (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.A small business sells 46 fruit cups at ₹45 each. What is its revenue (in ₹)?
10. 10.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
11. 11.True or false: “simplest to start” is true of a company. (a) False (b) True
12. 12.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) simplest to start (d) run by directors
13. 13.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) a random video (d) nobody
14. 14.A small business selling glasses of chai had a revenue of ₹1000 and a profit of ₹160. What were its costs (in ₹)?
15. 15.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) run by directors (d) simplest to start
16. 16.A small business sells 39 fruit cups at ₹10 each. Its costs are ₹300. What is its profit (in ₹)?
17. 17.A small business selling friendship bands had a revenue of ₹1330 and a profit of ₹780. What were its costs (in ₹)?
18. 18.True or false: “run by directors” is true of a company. (a) True (b) False
19. 19.A small business sells 43 handmade cards at ₹15 each. What is its revenue (in ₹)?
20. 20.A small business selling paper bookmarks had a revenue of ₹210 and a profit of ₹160. What were its costs (in ₹)?
21. 21.A small business sells 40 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
22. 22.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
23. 23.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
24. 24.🎂 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
25. 25.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
26. 26.A small business selling handmade cards had a revenue of ₹585 and a profit of ₹15. What were its costs (in ₹)?
27. 27.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner keeps all profit (d) owners’ risk is limited
28. 28.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
29. 29.A small business sells 34 glasses of chai at ₹50 each. What is its revenue (in ₹)?
30. 30.A small business sells 21 bags of popcorn at ₹10 each. Its costs are ₹50. What is its profit (in ₹)?
31. 31.👤 A sole trader is… (a) a bank (b) a big company (c) a school club (d) a one-owner business
32. 32.A small business sells 17 friendship bands at ₹15 each. What is its revenue (in ₹)?
33. 33.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
34. 34.A small business sells 21 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
35. 35.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
36. 36.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner keeps all profit (d) owned by shareholders
37. 37.A small business selling friendship bands had a revenue of ₹840 and a profit of ₹400. What were its costs (in ₹)?
38. 38.A small business selling cupcakes had a revenue of ₹650 and a profit of ₹220. What were its costs (in ₹)?
39. 39.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) the government always (d) its customers
40. 40.A small business sells 21 fruit cups at ₹40 each. What is its revenue (in ₹)?

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