Question

What is the difference between wage employment and entrepreneurship

Answer 1

Answer:

wage employment means working for wages whereas entrepreneurship means business

Answer 2

Answer:

Wage employment is working for a fixed salary.

Entrepreneurship means creating and running business and earning by the profit made through it.

Explanation:

Wage means a salary given in a time periods work i.e. hour, weeks, months. In wage employment one get's paid based on the time period a person has worked and not based the amount of work done.

i.e.

• Corporate workers in the offices.
• Factory workers.

Entrepreneur is a person who creates and runs a new business or even invests in a business structure. In entrepreneurship one get's paid based on the work he/she does in a business and/or the profit generated through it.