Which is the correct example of self-employment?
Answer and explanation
Correct answer: Running one’s own small repair shop
Self-employment means working for oneself by owning or independently operating an income-generating activity. A person running a repair shop makes decisions, provides the service, bears the business responsibility, and receives its earnings. Working in another person’s office is employment, while being a student or taking an examination is not employment.
Frequently asked questions
What is the correct answer to this question?
Running one’s own small repair shop
Why is this the correct answer?
Self-employment means working for oneself by owning or independently operating an income-generating activity. A person running a repair shop makes decisions, provides the service, bears the business responsibility, and receives its earnings. Working in another person’s office is employment, while being a student or taking an examination is not 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.
