Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 971 · 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 58 bags of popcorn at ₹50 each. Its costs are ₹780. What is its profit (in ₹)?
2. 2.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
3. 3.True or false: “simplest to start” is true of a company. (a) True (b) False
4. 4.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
5. 5.A small business selling potted plants had a revenue of ₹525 and a profit of ₹95. What were its costs (in ₹)?
6. 6.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
7. 7.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
8. 8.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
9. 9.A small business selling friendship bands had a revenue of ₹290 and a profit of ₹270. What were its costs (in ₹)?
10. 10.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
11. 11.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) an adult or an expert (d) nobody
12. 12.A small business sells 48 cupcakes at ₹10 each. What is its revenue (in ₹)?
13. 13.A small business selling glasses of chai had a revenue of ₹1325 and a profit of ₹945. What were its costs (in ₹)?
14. 14.Which of these is true of a sole trader? (a) simplest to start (b) run by directors (c) owners’ risk is limited (d) a separate legal body
15. 15.A small business sells 55 glasses of chai at ₹20 each. What is its revenue (in ₹)?
16. 16.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
17. 17.A small business sells 16 painted pebbles at ₹25 each. What is its revenue (in ₹)?
18. 18.A small business sells 18 clay diyas at ₹40 each. What is its revenue (in ₹)?
19. 19.A small business selling glasses of chai had a revenue of ₹540 and a profit of ₹80. What were its costs (in ₹)?
20. 20.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
21. 21.A small business selling fruit cups had a revenue of ₹2250 and a profit of ₹610. What were its costs (in ₹)?
22. 22.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
23. 23.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
24. 24.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
25. 25.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) its customers (d) the government always
26. 26.Which of these is true of a sole trader? (a) owner owes the debts (b) owners’ risk is limited (c) owned by shareholders (d) a separate legal body
27. 27.A small business sells 29 clay diyas at ₹30 each. What is its revenue (in ₹)?
28. 28.A small business sells 27 clay diyas at ₹40 each. Its costs are ₹1070. What is its profit (in ₹)?
29. 29.A small business selling potted plants had a revenue of ₹950 and a profit of ₹640. What were its costs (in ₹)?
30. 30.A small business sells 16 potted plants at ₹25 each. Its costs are ₹290. What is its profit (in ₹)?
31. 31.A small business sells 56 fruit cups at ₹10 each. What is its revenue (in ₹)?
32. 32.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
33. 33.True or false: “run by directors” is true of a company. (a) True (b) False
34. 34.A small business sells 24 cups of lemonade at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
35. 35.A small business sells 52 glasses of chai at ₹45 each. Its costs are ₹450. What is its profit (in ₹)?
36. 36.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
37. 37.A small business sells 50 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
39. 39.📊 Revenue minus costs equals… (a) stock (b) revenue (c) profit (d) price
40. 40.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) owner owes the debts (d) a separate legal body

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