Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 939 · 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 29 handmade cards at ₹25 each. Its costs are ₹280. What is its profit (in ₹)?
2. 2.A small business sells 22 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
3. 3.A small business sells 50 paper bookmarks at ₹50 each. Its costs are ₹290. What is its profit (in ₹)?
4. 4.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
5. 5.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
6. 6.True or false: “run by directors” is true of a company. (a) True (b) False
7. 7.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
8. 8.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) a separate legal body (d) owner owes the debts
9. 9.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
10. 10.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
11. 11.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) owners’ risk is limited (d) a separate legal body
12. 12.🏢 A company is owned by… (a) its customers (b) the government always (c) its suppliers (d) its shareholders
13. 13.Which of these is true of a sole trader? (a) owners’ risk is limited (b) simplest to start (c) run by directors (d) owned by shareholders
14. 14.A small business selling cups of lemonade had a revenue of ₹2240 and a profit of ₹400. What were its costs (in ₹)?
15. 15.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
16. 16.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
17. 17.A small business sells 15 cupcakes at ₹20 each. What is its revenue (in ₹)?
18. 18.A small business sells 34 cups of lemonade at ₹50 each. Its costs are ₹530. What is its profit (in ₹)?
19. 19.A small business selling clay diyas had a revenue of ₹450 and a profit of ₹440. What were its costs (in ₹)?
20. 20.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only with adult help (c) yes, no one needed (d) only at night
21. 21.A small business sells 24 glasses of chai at ₹10 each. What is its revenue (in ₹)?
22. 22.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
23. 23.👤 A sole trader is… (a) a school club (b) a bank (c) a big company (d) a one-owner business
24. 24.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
25. 25.A small business sells 10 painted pebbles at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
26. 26.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) one owner runs it (d) simplest to start
27. 27.A small business selling fruit cups had a revenue of ₹1060 and a profit of ₹590. What were its costs (in ₹)?
28. 28.A small business selling paper bookmarks had a revenue of ₹1820 and a profit of ₹1400. What were its costs (in ₹)?
29. 29.A small business sells 48 bags of popcorn at ₹5 each. Its costs are ₹110. What is its profit (in ₹)?
30. 30.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
31. 31.A small business sells 58 cupcakes at ₹25 each. Its costs are ₹850. What is its profit (in ₹)?
32. 32.A small business selling fruit cups had a revenue of ₹520 and a profit of ₹400. What were its costs (in ₹)?
33. 33.A small business sells 31 handmade cards at ₹10 each. What is its revenue (in ₹)?
34. 34.A small business sells 30 jute bags at ₹15 each. What is its revenue (in ₹)?
35. 35.A small business sells 54 paper bookmarks at ₹40 each. Its costs are ₹300. What is its profit (in ₹)?
36. 36.📜 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
37. 37.A small business selling bags of popcorn had a revenue of ₹290 and a profit of ₹280. What were its costs (in ₹)?
38. 38.A small business sells 23 fruit cups at ₹35 each. What is its revenue (in ₹)?
39. 39.A small business selling potted plants had a revenue of ₹630 and a profit of ₹530. What were its costs (in ₹)?
40. 40.📊 Revenue or profit: left after all costs? (a) revenue (b) profit

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