the Gig Economy

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4 Terms

1
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define it

a market which has independent worker contracts for short-termengagement

2
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name two examples of Gig economies

  1. uber

  2. airbnb

3
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how does AirBnB opperate as a gig economy? 3

by allowing owners of assets such as houses to monitise their spare capacity.

when they entered the hospitality market, contestability increased as firms found innovative ways , driven by tech

airbnb didnt have to pay for capital investemnt or AC such as staff or infrastructure

4
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how does airbnb work. 2

  1. market place where peoplemlist and discover accomadations

  2. revenue is generated from bookings: hotels are charged for each guest booking