The on-demand economy according to scientists and economists is “the on-demand economy is defined as the economic activity created by digital markets that satisfy consumer demand through 'immediate access and convenient supply of goods and services'. In short, this type of economic operation was created and modified to instantly meet consumer demand through websites where users can access and purchase products or services, thereby enhancing productivity. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayGig economy (can be intersubstitutable with the on-demand economy), according to Investopedia: “is where temporary, flexible jobs are common and companies tend to hire independent contractors and freelancers rather than full-time employees. The gig economy undermines the traditional economy of full-time workers who rarely change positions and instead focus on a lifetime career.” This means that companies now recruit freelance or casual (outsourcing) employees to do the work instead of employing temporary workers as full as in the past. The sharing economy, also known as “collaborative consumption” or “sharing economy”, is a “peer-to-peer economy” activity of obtaining, giving or sharing access to goods and services, coordinated through community-based online services.” Taking for example Uber, Airbnb, Grab, Lazada, Amazon, Shopee All these companies outsource from other places to do their business. They employ people like services like Uber like peer-to-peer ridesharing, people who drive their own cars and pick up customers, so people are actually services. Other examples are Shopee, Amazon, Airbnb. Companies run their business through websites, offering consumers online choices for accommodations, products, goods and other services, but they do not own any of these products. Anyone who wants to sell their products or services can be part of their staff and is flexible with their time when participating in this type of online work for companies. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay The “gig economy” can be exploitative due to some cases like the following. First, it is exploitation when employee laws are destroyed. For example, workers are not protected by the law since all their jobs are signed under short-term contracts or without a contract. They also did not receive insurance since companies do not have to pay, unlike full-time employees working in traditional business models. Secondly, it could ruin the traditional corporate structure and erode the foundations of the “employer-employee” relationship. Third, this digital and internet-based economy unfairly exploits and uses relatively low-wage employees to gain profits and benefits through personnel classification.