Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 938 · 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 57 bags of popcorn at ₹25 each. Its costs are ₹280. What is its profit (in ₹)?
2. 2.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) yes, no one needed (d) only with adult help
3. 3.A small business sells 38 cupcakes at ₹25 each. What is its revenue (in ₹)?
4. 4.📜 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
5. 5.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
6. 6.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
7. 7.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
8. 8.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
9. 9.A small business sells 38 fruit cups at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
10. 10.A small business selling friendship bands had a revenue of ₹775 and a profit of ₹475. What were its costs (in ₹)?
11. 11.Which of these is true of a company? (a) owner keeps all profit (b) owners’ risk is limited (c) one owner runs it (d) simplest to start
12. 12.True or false: “owned by shareholders” is true of a company. (a) False (b) True
13. 13.A small business selling paper bookmarks had a revenue of ₹810 and a profit of ₹600. What were its costs (in ₹)?
14. 14.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
15. 15.A small business sells 58 fruit cups at ₹45 each. What is its revenue (in ₹)?
16. 16.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owners’ risk is limited (d) owner keeps all profit
17. 17.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) simplest to start (d) run by directors
18. 18.A small business selling clay diyas had a revenue of ₹600 and a profit of ₹480. What were its costs (in ₹)?
19. 19.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
20. 20.Which of these is true of a company? (a) one owner runs it (b) run by directors (c) owner keeps all profit (d) owner owes the debts
21. 21.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
22. 22.A small business selling glasses of chai had a revenue of ₹840 and a profit of ₹270. What were its costs (in ₹)?
23. 23.A small business sells 31 clay diyas at ₹45 each. Its costs are ₹570. What is its profit (in ₹)?
24. 24.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
25. 25.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
26. 26.A small business selling paper bookmarks had a revenue of ₹370 and a profit of ₹240. What were its costs (in ₹)?
27. 27.A small business sells 59 glasses of chai at ₹5 each. What is its revenue (in ₹)?
28. 28.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) a separate legal body (d) owner keeps all profit
29. 29.A small business sells 15 cupcakes at ₹45 each. What is its revenue (in ₹)?
30. 30.Which of these is true of a company? (a) owned by shareholders (b) simplest to start (c) owner owes the debts (d) owner keeps all profit
31. 31.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
32. 32.A small business sells 15 jute bags at ₹50 each. Its costs are ₹430. What is its profit (in ₹)?
33. 33.A small business sells 32 jute bags at ₹30 each. What is its revenue (in ₹)?
34. 34.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner owes the debts (c) run by directors (d) owned by shareholders
35. 35.A small business selling paper bookmarks had a revenue of ₹245 and a profit of ₹25. What were its costs (in ₹)?
36. 36.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
37. 37.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
38. 38.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
39. 39.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
40. 40.A small business selling painted pebbles had a revenue of ₹700 and a profit of ₹690. What were its costs (in ₹)?

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