Question

Which of the following is an example of the sharing​ economy?

a) A rental firm rents tools and equipment to consumers on a daily basis.
b) Parents buy one car for their two teenagers to share.
c) A brother and sister who have both lost their spouses decide to buy a home together and share the living space.
d) An elderly couple orders one meal at an expensive restaurant and shares the meal.
e) Marvin rents his motor home in Florida to a vacationing couple.

Answer 1

Option e), where Marvin rents his motor home to a vacationing couple, is an example of the sharing economy. It involves a commercial transaction to temporarily transfer use of an asset, which aligns with the principles of collaborative consumption within the sharing economy.

Step-by-step explanation:

The sharing economy refers to an economic model in which individuals are able to borrow or rent assets owned by someone else.

The scenario described in option e) Marvin rents his motor home in Florida to a vacationing couple, is an example of the sharing economy. In this situation, Marvin is using a platform (possibly a website or application) to provide a service by renting out an asset he owns — a motor home — to someone who needs it temporarily.

This is distinct from the traditional buy and own model, where personal ownership is the norm, and fits within the sharing economy's principle of collaborative consumption.

Comparing it to the other options, we see they are examples of shared use within a close relationship such as family, which usually follows a principle of generalized reciprocity rather than a commercial transaction with strangers or acquaintances which characterizes the sharing economy.