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
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
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
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
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
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
Which financial institutions typically offer loans and credit facilities to support self-employed individuals?
Hospitals
Universities
Banks and credit unions
Restaurants
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
What do venture capital firms and angel investors provide to self-employed entrepreneurs?
Financial support and mentorship
Government regulations
Political interference
Job opportunities
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