What Is Not a Key Difference Between Self-Employed People and Entrepreneurs

question 27

Multiple Choice

What is not a key difference between self-employed people and entrepreneurs?

• A) When a self-employed person retires or quits, the business generally closes; an entrepreneur's company continues even if the entrepreneur dies or moves on.
• B) Self-employed people tend to work virtually and avoid taking risks; entrepreneurs tend to take risks, and they think on a global scale.
• C) The self-employed are experts who do much of the work themselves; entrepreneurs realize they can't do everything themselves, so they hire and delegate responsibilities to people they trust.
• D) Self-employed people can incorporate or organize as sole proprietors; entrepreneurs have a broader set of legal requirements, along with insurance and tax considerations.
• E) Self-employed people have broad aspirations aimed at influencing industries and markets; entrepreneurs are more focused on operating a business in a specific geographic area and market.

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Definitions:

Assumption Of Risk

A legal principle where a person knowingly exposes themselves to certain risks and is thus precluded from suing for injuries resulting from those risks.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances.

Victim

An individual who suffers harm, injury, or loss as a result of a crime, accident, or other events or action, often necessitating support or redress.

Punitive Damages

Monetary compensation awarded in court cases that goes beyond what is necessary to compensate the plaintiff and is intended to punish the defendant.