Podcast
Questions and Answers
What distinguishes a profession from other occupations?
What distinguishes a profession from other occupations?
- Professions prioritize specialized skills and knowledge. (correct)
- Professions do not focus on service.
- Professions have no formal entry standards.
- Professions require minimal training.
Which of the following is NOT a characteristic of employment?
Which of the following is NOT a characteristic of employment?
- Employees receive payment regularly.
- Employees are independent contractors. (correct)
- A legally binding employer-employee relationship exists.
- There are specific terms and conditions.
What defines the relationship between an employee and an employer?
What defines the relationship between an employee and an employer?
- Shared responsibilities
- Informal agreement
- A contract (correct)
- Mutual personal interests
Which of the following best describes continuous economic activities?
Which of the following best describes continuous economic activities?
Which of the following is NOT a common term included in the conditions of employment?
Which of the following is NOT a common term included in the conditions of employment?
What is one of the main roles of professional associations within professions?
What is one of the main roles of professional associations within professions?
What is one primary objective of employment?
What is one primary objective of employment?
Which activity is an example of employment?
Which activity is an example of employment?
How is employee compensation typically determined?
How is employee compensation typically determined?
Which statement about job requirements is true?
Which statement about job requirements is true?
Which of the following activities is classified as an economic activity?
Which of the following activities is classified as an economic activity?
What is the main purpose of non-economic activities?
What is the main purpose of non-economic activities?
Which scenario illustrates an economic activity?
Which scenario illustrates an economic activity?
What differentiates economic activities from non-economic activities?
What differentiates economic activities from non-economic activities?
Which of the following statements is true regarding economic activities?
Which of the following statements is true regarding economic activities?
Which of the following is required to start a business?
Which of the following is required to start a business?
What is the primary motive behind a profession?
What is the primary motive behind a profession?
Which of the following options is true regarding capital investment?
Which of the following options is true regarding capital investment?
What type of activities are motivated by personal satisfaction rather than economic gain?
What type of activities are motivated by personal satisfaction rather than economic gain?
Which of the following is NOT a utility created by business activities?
Which of the following is NOT a utility created by business activities?
In which scenario is there a risk of loss?
In which scenario is there a risk of loss?
Which of the following exemplifies an economic activity?
Which of the following exemplifies an economic activity?
What is the primary motivation behind economic activities?
What is the primary motivation behind economic activities?
What is the main outcome of business activities?
What is the main outcome of business activities?
Which of the following is considered a non-economic activity?
Which of the following is considered a non-economic activity?
Which statement best reflects the concept of business?
Which statement best reflects the concept of business?
What differentiates employment from a profession?
What differentiates employment from a profession?
Which of the following outcomes is associated with economic activities?
Which of the following outcomes is associated with economic activities?
Flashcards
Economic Activity
Economic Activity
An activity done to earn money for living
Non-Economic Activity
Non-Economic Activity
An activity done for enjoyment, not for money.
Purpose of Economic Activities
Purpose of Economic Activities
These activities, though serving the similar purpose, may have various end results as driven by different objectives
Employment Definition
Employment Definition
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Employment Contract
Employment Contract
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Salary/Wage
Salary/Wage
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Compensation Structure
Compensation Structure
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Employee Rights
Employee Rights
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Skill-based Employment
Skill-based Employment
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Secure Income
Secure Income
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Business
Business
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Profession
Profession
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Employment
Employment
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Economic Activity
Economic Activity
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Non-Economic Activity
Non-Economic Activity
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Economic Activity
Economic Activity
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Form Utility
Form Utility
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Time Utility
Time Utility
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Occupation
Occupation
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Place Utility
Place Utility
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Employment
Employment
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Profession
Profession
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Employment - Terms and Conditions
Employment - Terms and Conditions
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Employment - Payment
Employment - Payment
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Employment - Employer-Employee Relationship
Employment - Employer-Employee Relationship
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Profession - Systematic Body of Knowledge
Profession - Systematic Body of Knowledge
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Profession - Entry Standards
Profession - Entry Standards
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Profession - Professional Associations
Profession - Professional Associations
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Profession - Service Orientation
Profession - Service Orientation
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Profession - Code of Conduct
Profession - Code of Conduct
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Economic Activity
Economic Activity
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Non-Economic Activity
Non-Economic Activity
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Business (Core Concept)
Business (Core Concept)
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Business Examples
Business Examples
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Employment vs. Profession
Employment vs. Profession
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Unlimited Wants
Unlimited Wants
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Creating Utilities
Creating Utilities
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