Gig economy
The gig economy is the economic system by which a workforce of people (known as gig workers) engage in freelance and side-hustle work. The gig economy is composed of corporate entities, workers and consumers. The Internal Revenue Service defines the gig economy as "activity where people earn income providing on-demand work, services or goods", noting that the activity is often facilitated through a digital platform such as a mobile app or website and earnings may be in the form of "cash, property, goods, or virtual currency". According to the Fair Work Ombudsman, the digital platforms or marketplaces connect individual service providers directly to customers for a fee. The BBC presented the following definition for the term: "a labour market characterised by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs".