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Question

Which of the following statements is correct about 'Shared Economy' ?

A It is a type of Economic System wherein Private players and government almost have equal share in the economy in terms of volume of economic activities Correct Answer Incorrect Answer
B It is a type of Economic System wherein people prefer to buy domestic goods and imported goods in equal proportions, which is reflected in country's trade. Correct Answer Incorrect Answer
C It is a type of Economic System which highlights on the ability of individual to rent or borrow goods rather than to own them Correct Answer Incorrect Answer
D It is a type of Economic System which focuses on the individualistic consumption of goods and economic growth is shared in unequal proportion by different strata of society Correct Answer Incorrect Answer

Solution

● The shared economy in India is estimated to be an about $2 billion industry by the end of the current year, according to a recent report by Maple Capital Advisors ● The sharing economy, also known as collaborative consumption or peer-to-peerbased sharing, is a concept that highlights the ability of individuals to rent or borrow goods rather than buy and own them. ● The ‘shared economy’ includes segments such as co-working (Awfis, WeWork India), co-living (Stanza Living, OYO Life, Oxford Caps), shared mobility (Uber, Ola, Shuttl) and furniture rental (Furlenco, Rentomojo)

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