LESSON 2 Flashcards
Income
generated
passively
Entrepreneurship
Opportunity
income unlimited
Entrepreneurship
Income only
earned when the
business is
successful
Entrepreneurship
Income generated
actively
Employment
Income usually fixed
per month and
increases every year
Employment
Income earned
whether the business
is successful or not
Employment
Provides jobs
Entrepreneurship
Fully responsible
for serving
customers
Entrepreneurship
Seeks for a job
Employment
Has the goal of
satisfying only the
employer or the
direct supervisor
Employment
Performs all
necessary
variable tasks
Entrepreneurship
Prepares policies,
procedures and
memoranda for
the business
Entrepreneurship
Has routine tasks
and works on
regular or normal
hours
Employment
Follows policies,
procedures and
memoranda from
the employer
Employment
Has a flexible
schedule and can
take unlimited
number of
vacation days
Entrepreneurship
Has a limited
number of vacation
days imposed
Employment
Taxed on net
income
Entrepreneurship
Taxed on the gross
income
Employment
Comfortable in
doing multiple and
challenging tasks
and takes
accountability
with the risks and
profits of the
business
Entrepreneurship
Maybe comfortable
with routines and
minimal risks; may
also be comfortable
in working for the
company itself
Employment
