National Economic Life – Self Employment I - JSS3 Civic education Past Questions and Answers - page 1
What is the primary characteristic of self-employment?
Working for a large corporation
Being employed by a government agency
Working independently without external employment
Working as an intern in a company
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Why is self-employment important?
It promotes job scarcity
It limits economic growth
It empowers individuals and stimulates economic development
It increases reliance on government assistance
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What aspect of self-employment provides greater flexibility to individuals?
Strict work schedules
Limited decision-making autonomy
Greater control over work hours and location
Fixed salary payments
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How does self-employment contribute to economic empowerment?
By promoting reliance on government welfare programs
By limiting financial independence
By enabling individuals to take control of their financial well-being
By increasing unemployment rates
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Which of the following is a common source of funding for self-employment?
International aid organizations
Personal savings and investments
Entertainment industry grants
Agricultural subsidies
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What role do family and friends often play in supporting self-employment ventures?
Providing obstacles and criticism
Offering financial support and encouragement
Hindering progress and discouraging innovation
Ignoring the entrepreneur's efforts
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Which financial institutions typically offer loans and credit facilities to support self-employed individuals?
Hospitals
Universities
Banks and credit unions
Restaurants
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How do government programs contribute to self-employment initiatives?
By imposing strict regulations and restrictions
By discouraging entrepreneurship
By providing grants, subsidies, and financial incentives
By limiting access to funding
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What do venture capital firms and angel investors provide to self-employed entrepreneurs?
Financial support and mentorship
Government regulations
Political interference
Job opportunities
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What characteristic makes self-employment an attractive option for individuals seeking autonomy?
Limited decision-making authority
Strict corporate oversight
Greater control over business operations
Fixed work schedules
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