What is the relation between self-employment and entrepreneurship?
Answer and explanation
Correct answer: Self-employment can be a form of entrepreneurship
Self-employment means earning through one’s own work rather than working as an employee for an employer. It can be entrepreneurial when the person identifies an opportunity, organises resources, creates value, and accepts business responsibility or risk. However, every self-employed activity need not involve substantial innovation or growth.
Frequently asked questions
What is the correct answer to this question?
Self-employment can be a form of entrepreneurship
Why is this the correct answer?
Self-employment means earning through one’s own work rather than working as an employee for an employer. It can be entrepreneurial when the person identifies an opportunity, organises resources, creates value, and accepts business responsibility or risk. However, every self-employed activity need not involve substantial innovation or growth.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
