🔺Types of Economy: In News #Arthashastra 3
🔹What is a Gig Economy?
- In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees.
- A gig economy undermines the traditional economy of full-time workers who rarely change positions and instead focus on a lifetime career.
🔹What is Circular Economy?
- The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, re furbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.
🔹Golidilock economy:
-A concept of economy where economy of country is not to hot and not to cold.
- The term describes an ideal state for an economic system. In this perfect state, there is full employment, economic stability, and stable growth.
- The economy is not expanding or contracting by a large margin. A Goldilocks economy is warm enough with steady economic growth to prevent a recession.
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