Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 955 · 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 23 painted pebbles at ₹30 each. Its costs are ₹20. What is its profit (in ₹)?
2. 2.A small business sells 59 potted plants at ₹10 each. Its costs are ₹130. What is its profit (in ₹)?
3. 3.A small business sells 20 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
4. 4.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a bank (d) a school club
5. 5.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) one owner runs it (d) owners’ risk is limited
6. 6.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
7. 7.A small business selling glasses of chai had a revenue of ₹250 and a profit of ₹20. What were its costs (in ₹)?
8. 8.A small business sells 26 friendship bands at ₹25 each. Its costs are ₹530. What is its profit (in ₹)?
9. 9.Which of these is true of a company? (a) a separate legal body (b) simplest to start (c) owner owes the debts (d) one owner runs it
10. 10.A small business sells 42 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
11. 11.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
12. 12.A small business sells 19 paper bookmarks at ₹30 each. Its costs are ₹30. What is its profit (in ₹)?
13. 13.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
14. 14.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
15. 15.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
16. 16.🎂 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
17. 17.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
18. 18.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
19. 19.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
20. 20.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
21. 21.A small business sells 38 jute bags at ₹25 each. What is its revenue (in ₹)?
22. 22.A small business selling clay diyas had a revenue of ₹735 and a profit of ₹595. What were its costs (in ₹)?
23. 23.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
24. 24.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
25. 25.A small business sells 51 glasses of chai at ₹15 each. What is its revenue (in ₹)?
26. 26.A small business sells 55 fruit cups at ₹15 each. Its costs are ₹400. What is its profit (in ₹)?
27. 27.A small business selling cups of lemonade had a revenue of ₹550 and a profit of ₹190. What were its costs (in ₹)?
28. 28.A small business sells 41 cups of lemonade at ₹30 each. Its costs are ₹950. What is its profit (in ₹)?
29. 29.Which of these is true of a sole trader? (a) owner keeps all profit (b) owned by shareholders (c) run by directors (d) owners’ risk is limited
30. 30.A small business sells 13 cupcakes at ₹30 each. Its costs are ₹310. What is its profit (in ₹)?
31. 31.A small business sells 47 glasses of chai at ₹15 each. Its costs are ₹450. What is its profit (in ₹)?
32. 32.A small business selling fruit cups had a revenue of ₹220 and a profit of ₹130. What were its costs (in ₹)?
33. 33.Which of these is true of a sole trader? (a) owner owes the debts (b) owners’ risk is limited (c) a separate legal body (d) owned by shareholders
34. 34.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) a separate legal body (d) simplest to start
35. 35.A small business sells 14 fruit cups at ₹40 each. Its costs are ₹480. What is its profit (in ₹)?
36. 36.A small business sells 50 cupcakes at ₹50 each. What is its revenue (in ₹)?
37. 37.True or false: “owner owes the debts” is true of a company. (a) True (b) False
38. 38.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
39. 39.A small business sells 54 paper bookmarks at ₹10 each. Its costs are ₹230. What is its profit (in ₹)?
40. 40.A small business selling bags of popcorn had a revenue of ₹275 and a profit of ₹235. What were its costs (in ₹)?

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