Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 925 · 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 58 handmade cards at ₹40 each. Its costs are ₹1250. What is its profit (in ₹)?
2. 2.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) a separate legal body (d) one owner runs it
3. 3.A small business sells 20 glasses of chai at ₹25 each. What is its revenue (in ₹)?
4. 4.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
5. 5.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
6. 6.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
7. 7.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
8. 8.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
9. 9.True or false: “owned by shareholders” is true of a company. (a) False (b) True
10. 10.A small business sells 49 potted plants at ₹50 each. Its costs are ₹1280. What is its profit (in ₹)?
11. 11.A small business sells 30 potted plants at ₹20 each. What is its revenue (in ₹)?
12. 12.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
13. 13.Which of these is true of a sole trader? (a) a separate legal body (b) owner keeps all profit (c) owners’ risk is limited (d) owned by shareholders
14. 14.A small business sells 51 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
15. 15.📊 Revenue minus costs equals… (a) price (b) revenue (c) stock (d) profit
16. 16.A small business sells 10 painted pebbles at ₹25 each. What is its revenue (in ₹)?
17. 17.A small business sells 45 glasses of chai at ₹45 each. Its costs are ₹450. What is its profit (in ₹)?
18. 18.A small business selling clay diyas had a revenue of ₹2500 and a profit of ₹1120. What were its costs (in ₹)?
19. 19.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner owes the debts (c) run by directors (d) a separate legal body
20. 20.True or false: “run by directors” is true of a sole trader. (a) False (b) True
21. 21.A small business sells 29 fruit cups at ₹10 each. Its costs are ₹170. What is its profit (in ₹)?
22. 22.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) never ever (c) only at night (d) yes, no one needed
23. 23.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
24. 24.A small business sells 50 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
25. 25.A small business selling handmade cards had a revenue of ₹1025 and a profit of ₹525. What were its costs (in ₹)?
26. 26.A small business sells 28 fruit cups at ₹45 each. Its costs are ₹940. What is its profit (in ₹)?
27. 27.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
28. 28.A small business selling paper bookmarks had a revenue of ₹290 and a profit of ₹260. What were its costs (in ₹)?
29. 29.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
30. 30.A small business selling cups of lemonade had a revenue of ₹1300 and a profit of ₹690. What were its costs (in ₹)?
31. 31.A small business sells 35 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
32. 32.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
33. 33.A small business sells 10 potted plants at ₹5 each. What is its revenue (in ₹)?
34. 34.A small business sells 18 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
36. 36.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a classmate (d) a random video
37. 37.A small business selling fruit cups had a revenue of ₹600 and a profit of ₹30. What were its costs (in ₹)?
38. 38.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
39. 39.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
40. 40.A small business sells 47 bags of popcorn at ₹20 each. What is its revenue (in ₹)?

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