Ask How does the freelance business model work?

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I keep hearing about freelancing, but I don't really understand how it works. Do freelancers work for companies, or do they find their own clients? How do they get paid?

Do I need to sign contracts, or is it just a simple agreement? Also, where do freelancers find work? Are platforms like Upwork and Fiverr the only options, or do people find clients in other ways?

I'm also curious about taxes and payments. Do freelancers set their own rates, or do clients decide? How do they handle things like invoices and deadlines?

I like the idea of working for myself, but I don't know where to start.

Can someone explain how the freelance business model actually works?
 

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