INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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employment
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entrepreneurship
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job creation
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occupation
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Detailed explanation-1: -Employment most generally means the state of having a paid job-of being employed. To employ someone is to pay them to work. An employer provides employment to employees.
Detailed explanation-2: -Self-employed refers to an individual who works for him or herself, by either owning a business, being a freelancer or is an independent contractor for an external company. Employee is an individual who is under a contract to work for a company for an agreed compensation.
Detailed explanation-3: -The occupation through which people work for others and get remuneration in the form of wages or salaries is known as employment.
Detailed explanation-4: -Employment is an agreement between an employer and an employee that the employee will provide certain services. In return, the employee is paid a salary or hourly wage. Although employees can negotiate certain items in an employment agreement, the terms and conditions are primarily determined by the employer.
Detailed explanation-5: -For example, employment can be: An hourly part-time job that is paid for a certain amount for each hour they worked. Full-time employment in which individuals receive a salary and benefits from an employer for performing the tasks or work assigned to then that is required by a particular position.