What is the most correct meaning of self-employment?
Answer and explanation
Correct answer: Running one’s own work or business using one’s skills
Self-employment occurs when a person works for their own account, using personal skills, effort and often resources to provide goods or services and earn income. It may involve freelancing, a small shop or another own venture. Option A is correct; government employment and merely following an employer’s orders are forms of employment, not self-employment.
Frequently asked questions
What is the correct answer to this question?
Running one’s own work or business using one’s skills
Why is this the correct answer?
Self-employment occurs when a person works for their own account, using personal skills, effort and often resources to provide goods or services and earn income. It may involve freelancing, a small shop or another own venture. Option A is correct; government employment and merely following an employer’s orders are forms of employment, not self-employment.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Distinction between Business, Profession and Employment.
