What does self-employment mean?
Answer and explanation
Correct answer: Earning income through one’s own work
Self-employment means working for oneself and earning income from one’s own trade, profession, service, or productive activity rather than receiving wages from an employer. A self-employed person may also employ others, but the person is responsible for organising the activity and bearing its relevant risks. A government job is wage employment.
Frequently asked questions
What is the correct answer to this question?
Earning income through one’s own work
Why is this the correct answer?
Self-employment means working for oneself and earning income from one’s own trade, profession, service, or productive activity rather than receiving wages from an employer. A self-employed person may also employ others, but the person is responsible for organising the activity and bearing its relevant risks. A government job is wage employment.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Classification of human activities.
