Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 890 · 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: money in before costs? (a) profit (b) revenue
2. 2.A small business sells 12 clay diyas at ₹40 each. Its costs are ₹350. What is its profit (in ₹)?
3. 3.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
4. 4.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
5. 5.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
6. 6.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
7. 7.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
8. 8.A small business selling handmade cards had a revenue of ₹265 and a profit of ₹75. What were its costs (in ₹)?
9. 9.A small business selling painted pebbles had a revenue of ₹385 and a profit of ₹265. What were its costs (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owner keeps all profit (b) owners’ risk is limited (c) a separate legal body (d) owned by shareholders
11. 11.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
12. 12.A small business selling jute bags had a revenue of ₹660 and a profit of ₹250. What were its costs (in ₹)?
13. 13.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
14. 14.Which of these is true of a company? (a) simplest to start (b) owners’ risk is limited (c) one owner runs it (d) owner keeps all profit
15. 15.Which of these is true of a sole trader? (a) owner owes the debts (b) run by directors (c) owners’ risk is limited (d) owned by shareholders
16. 16.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
17. 17.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
18. 18.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
19. 19.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
20. 20.True or false: “one owner runs it” is true of a company. (a) False (b) True
21. 21.A small business sells 52 potted plants at ₹10 each. What is its revenue (in ₹)?
22. 22.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
23. 23.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
24. 24.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) only at night (d) never ever
25. 25.A small business selling handmade cards had a revenue of ₹1150 and a profit of ₹410. What were its costs (in ₹)?
26. 26.A small business sells 47 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
27. 27.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
28. 28.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
29. 29.A small business sells 13 handmade cards at ₹15 each. Its costs are ₹30. What is its profit (in ₹)?
30. 30.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
31. 31.A small business selling clay diyas had a revenue of ₹660 and a profit of ₹470. What were its costs (in ₹)?
32. 32.A small business selling glasses of chai had a revenue of ₹1900 and a profit of ₹1750. What were its costs (in ₹)?
33. 33.A small business sells 30 clay diyas at ₹40 each. What is its revenue (in ₹)?
34. 34.A small business sells 24 handmade cards at ₹50 each. What is its revenue (in ₹)?
35. 35.A small business sells 45 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
36. 36.A small business sells 29 potted plants at ₹10 each. What is its revenue (in ₹)?
37. 37.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owners’ risk is limited (d) a separate legal body
38. 38.A small business sells 26 potted plants at ₹45 each. Its costs are ₹160. What is its profit (in ₹)?
39. 39.A small business sells 25 friendship bands at ₹15 each. What is its revenue (in ₹)?
40. 40.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company

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