Question

Assignment

What goes into your decision to work (for households) OR hire labor (for businesses)?

List three different issues that influenced your decision.

Answer 1

I will prefer to hire labor for business. The reasons that influenced my choice are as follows:

--If I hire labor (for businesses) I will set my own rules and regulations. I don’t have to wait for a “Yes” from the manager to implement a new idea. If I hire own business and hire labor can make my own identity

----If I work (for households) then have to worry about the source of income after your retirement, however if set my own business then these types of things will not be a concern because in self owned business it’s up to you if you want to retire or not

-- When I set business and put hard efforts I will be rewarded for hard work. However If I work (for households) the hard work must not be feeling rewarding as the salary is fixed. On a longer run, owing a business has much more wider scopes to be very successful in the future