Correct Answer: Employment in the formal sector with regular wages and benefits

Solution : The correct answer is (b) Employment in the formal sector with regular wages and benefits

The concept of "wage employment" refers to employment in the formal sector with regular wages and benefits. It typically involves working for an employer or organization where a formal employment relationship exists. In wage employment, individuals receive a regular salary or wage for their work, which is often supplemented by benefits such as health insurance, retirement plans, and paid leave. This type of employment is characterized by a structured work environment, legal protections, and adherence to labor laws and regulations. Wage employment is often contrasted with self-employment, where individuals work for themselves and are responsible for generating their own income.