Learn
Games

1.3.3 - Employment

Interactive Audio Lesson

Listen to a student-teacher conversation explaining the topic in a relatable way.

Understanding Employment

Unlock Audio Lesson

Signup and Enroll to the course for listening the Audio Lesson

Teacher
Teacher

Today, we're going to talk about employment. Can anyone tell me what employment means?

Student 1
Student 1

I think it means having a job.

Teacher
Teacher

Exactly! Employment refers to an individual working under an employer for a set wage or salary. Do you know any examples?

Student 2
Student 2

How about teachers and bank clerks?

Student 3
Student 3

What about factory workers?

Teacher
Teacher

Great examples! Employment provides stability, as terms and conditions are predefined. Remember that employment is a key type of economic activity alongside business and professional work.

Features of Employment

Unlock Audio Lesson

Signup and Enroll to the course for listening the Audio Lesson

Teacher
Teacher

Let's delve deeper into the features of employment. What distinguishes employment from other economic activities?

Student 4
Student 4

Maybe it’s that you have to follow certain guidelines set by your employer?

Teacher
Teacher

Yes! Employment comes with set guidelines and expectations. Unlike being self-employed, as in business, you work for someone else under specific terms.

Student 1
Student 1

Do employees have job security?

Teacher
Teacher

That varies. Employment often provides some level of job security, but it can also involve risks depending on the economy. Remember, we describe employment as more structured and defined compared to other economic activities.

Importance of Employment

Unlock Audio Lesson

Signup and Enroll to the course for listening the Audio Lesson

Teacher
Teacher

Why do you think employment is essential for our economy?

Student 1
Student 1

It helps people earn money?

Teacher
Teacher

Absolutely! Employment creates income for individuals, which, in turn, allows them to spend money in the economy, thus driving growth. What else?

Student 3
Student 3

It can help improve living standards.

Teacher
Teacher

Exactly! More employment often means a better standard of living. It's essential for economic development, creating job opportunities and reducing poverty.

Introduction & Overview

Read a summary of the section's main ideas. Choose from Basic, Medium, or Detailed.

Quick Overview

Employment refers to the working relationship between an employee and an employer, where an individual provides labor in exchange for a fixed wage or salary.

Standard

This section explores employment as a type of economic activity where individuals work under an employer for a set salary or wage, defined by specific terms and conditions. Examples of employment are provided, highlighting its significance in economic activities.

Detailed

Youtube Videos

Commercial and Non Commercial Activities | icse commercial studies class 9 | Chapter 1 | 2024 - 25 |
Commercial and Non Commercial Activities | icse commercial studies class 9 | Chapter 1 | 2024 - 25 |
CLASS IX COMMERCIAL STUDIES CHAPTER 1
CLASS IX COMMERCIAL STUDIES CHAPTER 1
Commercial and Non Commercial Activities ||Commercial Studies || ICSE Class 9 COMMERCE|| Chapter -1
Commercial and Non Commercial Activities ||Commercial Studies || ICSE Class 9 COMMERCE|| Chapter -1
Commercial and Non Commercial Activities; 9th Standard ICSE; Commercial Studies
Commercial and Non Commercial Activities; 9th Standard ICSE; Commercial Studies
#1 Commercial and Non Commercial Activities | Human Activities | Class 9 Commercial Studies
#1 Commercial and Non Commercial Activities | Human Activities | Class 9 Commercial Studies
Business Activities (Part 1) ||ICSE Class 9 Commercial Studies || Chapter 2
Business Activities (Part 1) ||ICSE Class 9 Commercial Studies || Chapter 2
Lecture - 1 | Class IX | Commerce | Commercial & Non Commercial Activity #icse #class9 #commerce
Lecture - 1 | Class IX | Commerce | Commercial & Non Commercial Activity #icse #class9 #commerce
Business Activities | ICSE Commercial Studies Class 9 | Business Activities class 9 ICSE | 2025 -26|
Business Activities | ICSE Commercial Studies Class 9 | Business Activities class 9 ICSE | 2025 -26|
Introduction to Commercial Organization | Part-1 | Commerce | by George Sir
Introduction to Commercial Organization | Part-1 | Commerce | by George Sir

Audio Book

Dive deep into the subject with an immersive audiobook experience.

Definition of Employment

Unlock Audio Book

Signup and Enroll to the course for listening the Audio Book

Employment refers to working under an employer for a fixed wage or salary.

Detailed Explanation

Employment is characterized by an individual working for a company or organization where they receive a guaranteed salary or wage in exchange for their labor. This setup provides a sense of financial security, as employees receive regular payments. The terms of employment, including duties and salary, are typically agreed upon before starting the job.

Examples & Analogies

Think of employment like being part of a sports team. You have a coach (the employer) who assigns you roles and responsibilities, and in return, you work together to achieve wins (success) while getting paid (the wage/salary). Just as players rely on their teammates, employees rely on their colleagues to succeed in their roles.

Nature of Employment

Unlock Audio Book

Signup and Enroll to the course for listening the Audio Book

The terms and conditions of employment are predefined.

Detailed Explanation

Employment comes with specific agreed-upon terms and conditions that outline expectations for both the employer and the employee. These may include work hours, responsibilities, pay scales, benefits, and regulations that both parties must adhere to. Predefined terms help in establishing a clear understanding of the job role.

Examples & Analogies

Consider a restaurant menu as a set of predefined conditions. Before you order a meal, you can see the options available, including the price and the ingredients. Similarly, in a job, both the employer and employee have a 'menu' of expectations that define their work relationship.

Examples of Employment

Unlock Audio Book

Signup and Enroll to the course for listening the Audio Book

Examples of employment include teacher, bank clerk, factory worker.

Detailed Explanation

Employment can be found in various sectors, and individuals may hold different positions based on their skills and qualifications. For instance, a teacher educates students in schools, a bank clerk assists customers with financial transactions, and a factory worker may operate machinery or assemble products. Each role is important and contributes to the overall functioning of their respective organizations.

Examples & Analogies

Think of a school as a small community where each person plays a role: teachers educate, janitors maintain cleanliness, and administrative staff organize activities. Just like in this community, each job holds value and collectively, they create a well-functioning environment.

Definitions & Key Concepts

Learn essential terms and foundational ideas that form the basis of the topic.

Key Concepts

  • Employment: Working for an employer under predefined terms for wages.

  • Employer: The entity that hires employees and offers wages.

  • Employee: Someone who provides labor in exchange for payment.

Examples & Real-Life Applications

See how the concepts apply in real-world scenarios to understand their practical implications.

Examples

  • A teacher working in a school is employed to educate students for a salary.

  • A bank clerk processes transactions and manages operations in exchange for monthly wages.

Memory Aids

Use mnemonics, acronyms, or visual cues to help remember key information more easily.

🎵 Rhymes Time

  • Work with a boss, earn your dues, that’s employment, for me and you.

📖 Fascinating Stories

  • Once, there was a teacher who loved educating kids. She worked in a school under a principal, earning a salary and having specific responsibilities. This is employment.

🧠 Other Memory Gems

  • E for Employee, E for Employer: They go together like wings and a bird.

🎯 Super Acronyms

E.P.E. - Employee, Payment, Employer – Remember the trio defining employment!

Flash Cards

Review key concepts with flashcards.

Glossary of Terms

Review the Definitions for terms.

  • Term: Employment

    Definition:

    The condition of having a job where individuals work for an employer in exchange for wages or salary.

  • Term: Employer

    Definition:

    An individual or organization that hires employees.

  • Term: Employee

    Definition:

    An individual who provides labor to an employer under an employment contract.