Firms such as Uber, Airbnb, Foodora etc. are all part of what is known as the "sharing economy",...

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Firms such as Uber, Airbnb, Foodora etc. are all part of what is known as the "sharing economy", which is a generic term that describes economic and social activities that take place online. Such firms have had an enormous impact on traditional marketplaces, representing both opportunities and threats to society and the economy as a whole.
Your Group's task is to choose a company in Australia that is part of the sharing economy, and describe its economic impacts, both good and bad, utilising basic economic theories.
Key areas you may wish to focus upon (but not limited to) are:
a) Impact on competition and prices
b) impact on employment opportunities
c) Impact on resource allocation
d) Impact on wages

Soma · Accepted Answer

Deliveroo, the food takeaway apps have revolutionized the Australian food delivery business during the current times. Deliveroo is online food delivery British Company, founded in London in 2013 and operated in many countries across the world including Australia. Deliveroo is now dominating in food delivery services in several cities and riding huge popularity among the consumers in Australia. The application is user friendly that allows Australians to give the orders, track the status, preparation time and the travel time.  The on-demand food delivery service is now booming- from breakfast to dinner Deliveroo brings food of customer’s choice at home and also at office (Bansal, 2017)
Sharing economy has vast implications on allocations of resources. The sharing economy leads to better allocation of scarce resources. Here the resources are allocated on the basis of first come first serve. Sharing supplements, the delivery of food service supply when the demand is in peak.

Firms such as Uber, Airbnb, Foodora etc. are all part of what is known as the "sharing economy", which is a generic term that describes economic and social activities that take place online. Such...

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