Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 929 · 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 19 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
2. 2.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
3. 3.📊 Revenue minus costs equals… (a) price (b) profit (c) revenue (d) stock
4. 4.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
5. 5.A small business sells 13 handmade cards at ₹15 each. What is its revenue (in ₹)?
6. 6.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owners’ risk is limited (d) one owner runs it
7. 7.True or false: “run by directors” is true of a sole trader. (a) True (b) False
8. 8.A small business sells 49 clay diyas at ₹35 each. Its costs are ₹350. What is its profit (in ₹)?
9. 9.A small business sells 33 jute bags at ₹35 each. What is its revenue (in ₹)?
10. 10.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) an adult or an expert (d) nobody
11. 11.A small business sells 39 bags of popcorn at ₹45 each. Its costs are ₹1420. What is its profit (in ₹)?
12. 12.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
13. 13.A small business sells 43 paper bookmarks at ₹45 each. Its costs are ₹1030. What is its profit (in ₹)?
14. 14.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its shareholders (d) its customers
15. 15.A small business sells 50 jute bags at ₹45 each. Its costs are ₹740. What is its profit (in ₹)?
16. 16.True or false: “simplest to start” is true of a company. (a) False (b) True
17. 17.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
18. 18.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
19. 19.Which of these is true of a company? (a) simplest to start (b) a separate legal body (c) one owner runs it (d) owner keeps all profit
20. 20.A small business selling potted plants had a revenue of ₹1550 and a profit of ₹370. What were its costs (in ₹)?
21. 21.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
22. 22.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) simplest to start (d) owned by shareholders
23. 23.A small business selling handmade cards had a revenue of ₹2070 and a profit of ₹1890. What were its costs (in ₹)?
24. 24.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
25. 25.A small business selling potted plants had a revenue of ₹900 and a profit of ₹280. What were its costs (in ₹)?
26. 26.A small business selling painted pebbles had a revenue of ₹465 and a profit of ₹345. What were its costs (in ₹)?
27. 27.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
28. 28.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) owner keeps all profit (d) a separate legal body
29. 29.A small business sells 15 clay diyas at ₹5 each. What is its revenue (in ₹)?
30. 30.A small business sells 10 cupcakes at ₹10 each. What is its revenue (in ₹)?
31. 31.A small business sells 54 painted pebbles at ₹40 each. Its costs are ₹1540. What is its profit (in ₹)?
32. 32.True or false: “one owner runs it” is true of a company. (a) True (b) False
33. 33.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
34. 34.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
35. 35.A small business sells 53 potted plants at ₹10 each. What is its revenue (in ₹)?
36. 36.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
37. 37.A small business sells 55 cupcakes at ₹15 each. What is its revenue (in ₹)?
38. 38.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
39. 39.A small business sells 59 cups of lemonade at ₹30 each. Its costs are ₹1650. What is its profit (in ₹)?
40. 40.📊 Revenue or profit: left after all costs? (a) profit (b) revenue

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