[Closed] Zero Hours Contracts - Help me Understand

I figured this would be as good a place as any to get a quick and insightful response.

So as I understand them, zero hours contracts:

- are a form of working contract whereby the employer commits to pay 'x' per unit of work done and the employee commits to that work having established their suitability

- there is no guarantee of how much work will be offered; only how much pay will be received for work that is offered and completed

- there is NO minimum notice period for there being no work on any given day. An 'employee' can turn up for work and be sent home if there is no work available

- the employee is free to sell their labour to anyone else in that situation (this is of course notwithstanding the impossibility of that situation if you're looking to do so at such short notice)

- there may be periods where plenty of work is available and you end up working on what looks and feels like a regular contract but that could all end very suddenly.

- the zero hours element means you effectively don't have to give notice periods; the notice period such as it is could simply involve a month/week of no work.

- it is possible that such flexibility has contributed greatly to the growth in jobs and the prosperity of our economy relative to other European countries

- it is possible that many people on zero hours contracts actually experience normal continual employment with regular income even if other do not.

OK so which of these is correct which are not and what have I missed?

This is not a troll. I'm certainly more right of centre when it comes to the economy and politics but I've always felt like zero hours contracts were a terrible thing based on the above understanding.