Discuss the Arguments Posed by Both Critics and Proponents of the Sharing

question 8

Essay

Discuss the arguments posed by both critics and proponents of the sharing economy.Do you agree with the critics or proponents? Why?

---

Definitions:

Ratio of Labor Cost

A financial metric that measures the total labor costs in relation to another metric, often used to assess efficiency or productivity.

Least-Costly Combination

An economic principle that describes the mix of factors of production (like labor and capital) that minimizes cost for a certain level of output.

MRPs

The marginal revenue product of labor refers to the increase in revenue a firm sees when adding one additional unit of labor, holding other factors constant.

Variable Resources

Factors of production such as labor, capital, and raw materials that can be adjusted in the short term to meet changes in demand or production.