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Match the gig, sharing, and knowledge economies to the following definitions.Group of answer choicesGig economySharing economyKnowledge economy

Question

Match the gig, sharing, and knowledge economies to the following definitions.

Group of answer choices

  • Gig economy
  • Sharing economy
  • Knowledge economy
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Solution

Sure, here are the matches for each economy type:

  1. Gig Economy: This is a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. In this economy, temporary positions are common and organizations contract with independent workers for short-term engagements.

  2. Sharing Economy: This is an economic model often defined as a peer-to-peer (P2P) based activity of acquiring, providing, or sharing access to goods and services that are facilitated by a community based online platform. It's a way of distributing goods and services that differs from the traditional model of corporations hiring employees and selling products to consumers.

  3. Knowledge Economy: This is an economy in which growth is dependent on the quantity, quality, and accessibility of the information available, rather than the means of production. Knowledge economies focus on intellectual capabilities, rather than physical inputs or natural resources.

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