giving suitable examples ,differentiate between the following
(a) wage employment and self employment
Answers
Explanation:
Self-Employment
Advantage
You can set your own hours
Don’t need educational degrees or certificates
You are your own boss and can make your own decisions
You do work you like
Disadvantage
You have to work many hours each day to make any money
Business income varies, but business expenses are more constant (e.g., utilities, supplies, marketing)
You usually need capital to get started
Responsibility for business success is stressful
Wage Employment
Advantage
You receive wages on a regular basis
You can have opportunities for promotion
Social contact with co-workers
Less stressful, you can leave your work behind at the end of the day
Disadvantage
You cannot set your own schedule
Your work hours may not be convenient for you
You have no control over work conditions
You have limited opportunities to make decisions
Hope this helps!