What is the main feature of wage employment?
Answer and explanation
Correct answer: Working for an employer or organisation in return for wages or salary
In wage employment, a person works under an employer or organisation and receives wages or salary in return for performing assigned duties. The employer generally organises the work and bears the business risk, while the employee does not normally own the business merely because of the job. Running one’s own enterprise, bearing its risk, or investing capital describes self-employment or business ownership. Therefore, option A is correct.
Frequently asked questions
What is the correct answer to this question?
Working for an employer or organisation in return for wages or salary
Why is this the correct answer?
In wage employment, a person works under an employer or organisation and receives wages or salary in return for performing assigned duties. The employer generally organises the work and bears the business risk, while the employee does not normally own the business merely because of the job. Running one’s own enterprise, bearing its risk, or investing capital describes self-employment or business ownership. Therefore, option A is correct.
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.
