Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 94 · 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: price × number sold? (a) profit (b) revenue
2. 2.📊 Revenue minus costs equals… (a) revenue (b) stock (c) price (d) profit
3. 3.A small business sells 24 bags of popcorn at ₹10 each. Its costs are ₹100. What is its profit (in ₹)?
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
5. 5.A small business sells 18 clay diyas at ₹50 each. What is its revenue (in ₹)?
6. 6.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) a separate legal body (d) owner keeps all profit
7. 7.A small business sells 21 painted pebbles at ₹20 each. Its costs are ₹280. What is its profit (in ₹)?
8. 8.True or false: “one owner runs it” is true of a company. (a) False (b) True
9. 9.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) run by directors (d) one owner runs it
10. 10.A small business sells 49 friendship bands at ₹25 each. Its costs are ₹1050. What is its profit (in ₹)?
11. 11.A small business sells 26 cupcakes at ₹20 each. Its costs are ₹100. What is its profit (in ₹)?
12. 12.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owned by shareholders (d) owner owes the debts
13. 13.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
14. 14.A small business sells 18 paper bookmarks at ₹45 each. Its costs are ₹430. What is its profit (in ₹)?
15. 15.A small business selling potted plants had a revenue of ₹330 and a profit of ₹280. What were its costs (in ₹)?
16. 16.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
17. 17.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
18. 18.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
19. 19.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
20. 20.A small business sells 10 potted plants at ₹25 each. Its costs are ₹160. What is its profit (in ₹)?
21. 21.A small business sells 31 fruit cups at ₹40 each. What is its revenue (in ₹)?
22. 22.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) never ever (d) only at night
23. 23.A small business sells 33 painted pebbles at ₹45 each. What is its revenue (in ₹)?
24. 24.A small business sells 13 cupcakes at ₹15 each. Its costs are ₹160. What is its profit (in ₹)?
25. 25.Which of these is true of a sole trader? (a) a separate legal body (b) owner owes the debts (c) owners’ risk is limited (d) owned by shareholders
26. 26.A small business sells 38 bags of popcorn at ₹25 each. Its costs are ₹310. What is its profit (in ₹)?
27. 27.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
28. 28.A small business selling cups of lemonade had a revenue of ₹2115 and a profit of ₹1955. What were its costs (in ₹)?
29. 29.A small business sells 13 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
30. 30.A small business selling handmade cards had a revenue of ₹680 and a profit of ₹500. What were its costs (in ₹)?
31. 31.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
32. 32.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
33. 33.A small business sells 15 potted plants at ₹20 each. What is its revenue (in ₹)?
34. 34.A small business selling cupcakes had a revenue of ₹1250 and a profit of ₹190. What were its costs (in ₹)?
35. 35.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
36. 36.A small business selling bags of popcorn had a revenue of ₹625 and a profit of ₹315. What were its costs (in ₹)?
37. 37.A small business sells 51 clay diyas at ₹5 each. Its costs are ₹210. What is its profit (in ₹)?
38. 38.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
39. 39.A small business selling handmade cards had a revenue of ₹450 and a profit of ₹80. What were its costs (in ₹)?
40. 40.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owners’ risk is limited (d) one owner runs it

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