The Main Advantage to Being Self-Employed Is

question 99

Multiple Choice

The main advantage to being self-employed is:

• A) having more creative jobs.
• B) being able to design your own hours.
• C) working fewer hours.
• D) getting higher pay.

---

Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service, crucial for pricing and production decisions.

Purely Competitive Firm

A business operating in a market where there are many buyers and sellers of a homogeneous product with no single entity able to influence the market price.

Normal Profits

The minimum level of profit needed for a company to remain competitive in the market, also seen as the opportunity cost of capital.

Purely Competitive Firm

A business operating in a market where there are many buyers and sellers, with none being able to influence prices significantly by their individual actions.