What is the meaning of self-employment?
Answer and explanation
Correct answer: Working for oneself or running one's own business
Self-employment means earning a livelihood by working for oneself rather than being employed by an organisation as a wage or salary worker. A self-employed person may provide services independently, practise a profession, or operate a business and bear responsibility for the work and its income. Receiving a salary from an employer describes paid employment, not self-employment.
Frequently asked questions
What is the correct answer to this question?
Working for oneself or running one's own business
Why is this the correct answer?
Self-employment means earning a livelihood by working for oneself rather than being employed by an organisation as a wage or salary worker. A self-employed person may provide services independently, practise a profession, or operate a business and bear responsibility for the work and its income. Receiving a salary from an employer describes paid employment, not self-employment.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
