Question

draw a poster showing the events or happenings within the concept of demand and supply. Also, give it a clear explanation.

Answer 1

Answer:

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The “social economy” has played an important role in addressing and mitigating the short- and long-term impacts of the COVID-19 crisis on economy and society. In the short term, social economy actors have assisted the recovery from the crisis by providing innovative solutions that are aimed at strengthening public services to complement government action. In the long term, social economy organisations can help reshape the post-crisis economy by promoting inclusive and sustainable economic models. Relying on decades of experience, its specific features and underlying principles, the social economy can inspire models of social innovation and a sense of purpose to firms operating in the market economy.

Key facts and messages

The social economy includes associations, co-operatives, foundations, mutual organisations and social enterprises. In the EU, there are 2.8 million social economy entities, accounting for 6.3% of EU employment, but their impact goes far beyond those numbers. Social economy actors are found in most sectors of the economy—from health and education to banking and utilities. Some are small non-profits, but others are large enterprises with international outreach.

The distinctive feature of the social economy is its focus on economic practices that are sustainable and inclusive: (i) by addressing societal (i.e. social and/or environmental) needs; (ii) by organising economic activities building on local roots, as well as using participatory and democratic governance; and (iii) by working in close co-operation with other economic actors and relevant stakeholders.