10 Questions
What distinguishes employment from business?
Working under the rules of service
What is the primary objective of business activities?
Engaging in the purchase and sale of goods or services
What is the defining characteristic of a profession?
Rendering personalized services based on specialized knowledge
What is the term used for the individuals engaged in a profession?
Professionals
What is the term for the remuneration paid by the employer to the employee?
Salary or wages
What distinguishes employment from business?
Employment involves regular work for agreed remuneration, while business focuses on profit from goods or services
Which of the following best defines a profession?
An activity requiring specialized knowledge and skill for personalized services
What is the primary objective of business activities?
To engage in the purchase and sale of goods or services for profit
What is the defining characteristic of a profession?
Specialized knowledge and education
What term is used for the individuals engaged in business activities?
Entrepreneurs
Test your knowledge of business arrangements and practices with this quiz on economic activities, professions, employment, and the meaning of business. See how well you understand the distinctions between different forms of economic engagement and the specialized skills required for professional work.
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