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An establishment with four hired workers is known as ____ sector establishment
- a)Formal
- b)Informal
- c)Both
- d)None
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
An establishment with four hired workers is known as ____ sector estab...
The correct answer is B: Informal
Explanation:
An establishment with four hired workers is considered as an informal sector establishment. Here's why:
- Formal sector: The formal sector refers to businesses or organizations that are registered, regulated, and operate within the legal framework of a country. These establishments typically have a larger number of employees and follow specific labor laws and regulations.
- Informal sector: The informal sector consists of unregistered or small-scale businesses that operate outside the legal framework. These establishments often have a limited number of employees and may not comply with labor laws or regulations. They are usually characterized by low wages, lack of social security benefits, and limited job security.
- In the given scenario, the establishment with four hired workers does not meet the criteria for a formal sector establishment as it falls below the threshold for larger businesses.
- Therefore, the establishment with four hired workers would be considered as an informal sector establishment.
To summarize, an establishment with four hired workers is classified as an informal sector establishment, as it operates outside the legal framework and does not adhere to formal labor laws and regulations.
Explanation:
An establishment with four hired workers is considered as an informal sector establishment. Here's why:
- Formal sector: The formal sector refers to businesses or organizations that are registered, regulated, and operate within the legal framework of a country. These establishments typically have a larger number of employees and follow specific labor laws and regulations.
- Informal sector: The informal sector consists of unregistered or small-scale businesses that operate outside the legal framework. These establishments often have a limited number of employees and may not comply with labor laws or regulations. They are usually characterized by low wages, lack of social security benefits, and limited job security.
- In the given scenario, the establishment with four hired workers does not meet the criteria for a formal sector establishment as it falls below the threshold for larger businesses.
- Therefore, the establishment with four hired workers would be considered as an informal sector establishment.
To summarize, an establishment with four hired workers is classified as an informal sector establishment, as it operates outside the legal framework and does not adhere to formal labor laws and regulations.
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Question Description
An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer?.
An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An establishment with four hired workers is known as ____ sector establishmenta)Formalb)Informalc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer?.
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