Study the following table, figure, passage and answer the questions given below it (any two):On-Demand Economy :On-demand economy is defined as the economic activity created by digital market places and technology companies to fulfill consumer demand…

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Q.5 (iii) Study the following table, figure, passage and answer the questions given below it (any two): On-Demand Economy : On-demand economy is defined as the economic activity created by digital market places and technology companies to fulfill consumer demand via immediate access to goods and services. The on-demand economy is also sometimes referred as the “access economy” because these companies provide outlets to the wholesalers, retailers and also consumers, the facilities of goods and services. With consumers behaviour changing to prioritize fast, simple and efficient experiences, convenience, speed and simplicity are at the top of the priority list to have their needs met. The ease of filling spare time and picking and choosing one’s hours is also appealing to those with skills to meet growing consumer demand. So the on-demand economy is growing at an unparalleled pace. Many of the popular services people use on a regular basis nowadays are examples of the on-demand economy. Ride-sharing platforms Uber and Ola, as well as grocery delivery services such as Big basket, Dunzo and Reliance JIO Mart are just some examples of services with the on-demand economy. Questions: (1) What is on-demand economy sometimes referred? (1) (2) Write any two examples based according to on-demand economy? (1) (3) Write your opinion on the above passage. (2)

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Answer: (1) Access economy; (2) Uber and Ola (ride-sharing), Big basket and Dunzo (grocery delivery); (3) see below (1) The on-demand economy is sometimes referred to as the “access economy”. (2) Ride-sharing platforms such as Uber and Ola, and grocery delivery services such as Big basket, Dunzo and Reliance JIO Mart. (3) Opinion: The on-demand economy has changed the way consumers buy goods and services. Digital platforms give immediate access to goods and services, saving time and effort and offering convenience, choice and speed. It also creates flexible earning opportunities for drivers, delivery partners and skilled workers, who can choose their own working hours, and it helps small sellers reach more customers. However, gig workers often lack job security, fixed wages and social security, and the economy depends heavily on internet access and smartphones, so rural and poor consumers may be left out. With proper regulation and protection of workers and consumers, the on-demand economy can contribute greatly to growth and employment in India.

Study the following table, figure, passage and answer the questions given below it (any two):On-Demand Economy :On-demand economy is defined as the economic activity created by digital market places and technology companies to fulfill consumer demand…

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