Question

What is difference between wage employment and self employment

Answer 1

Answer:  SELF EMPLOYMENT Self-employed is a situation in which an individual works for himself instead of working for an employer that pays a salary or a wage.

WAGE EMPLOYMENT Some people work as a salaried employee earning a set amount of money each week. They may be paid weekly, bi-weekly or monthly. ...

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Answer 2

SELF EMPLOYMENT

Advantages:

(1). You can set your own hours.

(2). Don't need educational degrees or certificatates.

(3). You are your own boss and can make your own decisions.

(4). You do work you like.

Disadvantages:

(1). You have to work many hours each day to make money.

(2). Bussiness income varies,but business expenses are more constant (e.g.,utilises, supplising, and marketing.

(3). You usually need capital to get started.

(4). Responsibilities for business success is essential.

WAGES EMPLOYMENT

Advantages:

(1). You reciever wages on a regular bases.

(2). You can have opportunities for promotion.

(3). Social contact with co-worker .

(4). Less stressful, you can leave your work behind at the end of day.

Disadvantages:

(1). You can set your own schedule.

(2). Your work hours may not be convenient for you.

(3). You have no control over work conditions.

(4). You have limited opportunities to make decision.

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