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Gig Economy - Coggle Diagram
Gig Economy
What is Gig Economy?
Labour market
Short-term contracts @ freelance work
Commonly through digital platform
Uber, Amazon, Hermes, etc
Platform Economy
The use of IT to facilitate opportunities for gig
Sharing Economy
Generating money by sharing @ renting out assets
What are the benefits?
Business
Flexibility to manage hours
to fulfill the demand for products
Reduced fixed cost
Lower payroll expenses
Reduced investments
Uber drivers-their own car
Workers
Earn more income
Work from home
Flexible hours
The Downsides?
Reduction in road safety
Workers
Lack of employment rights
Inadequate investment in worker training
Doubts