Question

The "gig" (or sharing) economy is accurately described by which of these? A) Many companies have...

The "gig" (or sharing) economy is accurately described by which of these?

A) Many companies have become more cost-efficient.

B) Risk has shifted from the worker to the company.

C) The generally low wages have increased the welfare burden on the government.

D) Both of these answers are correct: Many companies have become more cost-efficient; and the generally low wages have increased the welfare burden on the government.

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Answer #1

Correct Answer : D Both of these answers are correct: Many companies have become more cost-efficient; and the generally low wages have increased the welfare burden on the government.

Reason: Sharing Economy refers to the type of economic system where the individuals/society share their resources or services with others. This allows individuals to rent out assets to the people who need them. It is a form of collaborative economy where people share their expertise or efficiently make use of their underutilized resources. Due to this reason, many companies have become more cost-efficient. However, jobs are more unstable and may also result in lower wages. This leads to greater welfare burden on the government.

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