ELI5: Explain Like I'm 5

New Economy

Alright kiddo, have you ever heard your parents or teachers talk about the word "economy"? It's basically all about how we make, buy, and sell things. And now there's a new type of economy that's taking over called the "new economy".

The new economy is different from the old one because it's all about technology and the internet. People are making money in new and different ways, like selling things online or making apps. Before, people would mostly make money from working at a job or selling things in stores.

One really cool thing about the new economy is that you can work from home or from anywhere with an internet connection. People can also make money by sharing things they own that other people might need, like renting out a spare room or car.

Another big part of the new economy is that it's more focused on creativity and innovation. People are coming up with new ideas all the time for products and services that have never been seen before.

So as you grow up, you might hear a lot more about the new economy and how it's changing the way we live and work. Who knows, you might even come up with an idea that changes the world!