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Homework 3: 07 Nov.

Title: The sharing economy: definition, examples and advantages

Source: https://climate.selectra.com/en/environment/sharing-economy

Words:
1. subsidy: money given as part of the cost of something to help or encourage it
to happen
e.g. Financing can take on the form of subsidies, loans or capital investment. It allows
to connect individuals who wish to do business with private funds, through platforms
such as Kickstarter, GoFundeMe or JustGiving..

2. remuneration: payment for work or services

 e.g. Free and attractive remuneration model.

Questions:

1. Have you got any experience using sharing platforms?

2. Why could this type of economy surge into popularity?
3. What might be consequences of using peer-to-peer sharing?

Summary

In this article I’ve learnt that sharing economy is related to technological advancement as well
as the development of the internet. It is based on the exchange, sharing, and collaboration
between goods or services via online platforms. There are some examples of peer-to-peer
sharing, where there is no intermediary involved and the users interact directly. The sales
revenues of companies using this type of economy is expected to be $320 billion by 2025.
Some advantages of the sharing economy are: larger offer of products and services, new areas
of employment and also environmental benefits. Although there are some disadvantages as
well, for example the lack of costumer and employee protection, unfair competition, and the
biggest one being the heavy reliance on technology. What the sharing economy does is
enabling goods to be used rather than to be possessed, establishing direct connections between
providers and costumers, and supporting the environment by reducing the usage of natural
resources and assisting sustainability. Some widely known examples are Airbnb, Uber and
Kickstarter.