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Explain the following term/concept. Employment - Organisation of Commerce and Management

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Question

Explain the following term/concept.

Employment

Short Note

Solution

  1. Employment is an economic activity.
  2. A person works for others to earn his livelihood.
  3. A person who works is called an employee and a person who offers work is an employer.
  4. The employee gets remuneration after a certain period which is called salary or wages.
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Economic Activities
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Chapter 1: Introduction of Commerce and Business - EXERCISE [Page 19]

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Balbharati Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board
Chapter 1 Introduction of Commerce and Business
EXERCISE | Q 2. 3) | Page 19
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