CQ 3: What factors constitute self-employment?
13 important questions on CQ 3: What factors constitute self-employment?
What are the 3 economic roles of entrepreneurs?
- Neo-classical school
- Austrian school
- German (or Schumpeterian) school
Each perspective has its merits
- 'The creation of potential may be seen as Schumpeterian and its realisation as Austrian'
What entails the neo-classical school?
What entails the Austrian school?
- Disequilibrium in the market creates the opportunity, so the entrepreneur is moving the market towards equilibrium
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What entails the German (or Schumpeterian) school?
What are 3 ideas of Jospeh Schumpeter?
- Entrepreneurs as wild spirits, 'Unternehmergeist'
- Innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete
- The act of innovating creates new market conditions, so creating disequilibrium in the market ('creative destruction')
What are the 2 Schumpeterian regimes?
- Mark 1: Entrepreneurs (small businesses) important (innovation: product/process)
- Mark 2: Large businesses (managers) important (research and development)
Who is an entrepreneur according to Schumpeter?
What is the difference between occupational and behavioural notion?
- Occupational notion of entrepreneurship is working on own account and risk
- Behavioural notion of entrepreneurship is creation and exploitation of new economic opportunities
What is a managerial business owner? (2)
- Behavioural notion ('nature of work'): Managerial
- Occupational notion ('labor market status'): Self-employed
Where do small business owners fit in the table? (2)
- Schumpeterian entrepreneurs are to be found mostly in small firms. They own and direct independent firms that are innovative and creatively destroy existing market structures.
- After realising their goals Schumpeterians often develop into managerial business owners, but some may again start new ventures of new firms
What 3 factors constitute self-employment?
- Distinguishing 'real' self employment (with its associated risks and uncertainties) from abuse of the self-employment status
- Tax authorities usually look at 4 dimensions
- Classification sometimes a little subjective
What is 'distinguishing real self-employment from abuse of the self-employment status?
What are the 4 dimensions tax authorities usually look at?
- Control (decision authority)
- Integration (embeddednes in organization)
- Economic reality (type of compensation)
- Mutuality of obligation (legal requirement to do particular tasks)
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