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Question
State any four features of employment.
Solution
Employment is an economic activity. A person works for others to earn his livelihood. Following are the features of employment:
- Aim: The main aim of a person accepting employment is to earn money.
- Qualification: Qualifications are required depending upon the nature of employment. Some types of work require educational qualifications, some require some specific skill, some require both. But qualification is necessary for employment.
- Monetary returns: The person who accepts employments and works for the employer gets remuneration after specific intervals. Remuneration can be wages or salaries. Usually, wages are paid daily or weekly salaries are paid monthly.
- Capital: Capital is not required for the person who is in employment.
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