Shared Economy

Shared economy, also known as the collaborative economy, is a system where individuals or organizations share access to goods and services—often via online platforms—rather than owning them outright. This model promotes efficient use of resources, reduces costs, and fosters community participation. Examples include ride-sharing services like Uber, short-term lodging through Airbnb, and tool-sharing platforms. By leveraging technology to connect users directly, the shared economy encourages sustainable consumption, flexible usage, and economic innovation, enabling people to monetize underused assets and access services more conveniently.