Task 2 – Multi-task reading

In this part there are four short texts for you to read and 15 questions for you to answer.

Text A

The Principles of the Sharing Economy

The sharing economy, also known as the collaborative economy or peer-to-peer economy, is an economic model1 built around the sharing of resources and services among individuals. Instead of traditional ownership, it emphasizes access over possession. This model leverages technology, typically through online platforms and apps, to connect people who have underutilized assets (like a spare room, a car, or even a skill) with those who need them. Examples range from ride-sharing and short-term accommodation rentals to tool libraries and co-working spaces, fundamentally changing consumption patterns.

Text B

Environmental Impact of Sharing

One of the most touted benefits of the sharing economy is its potential to reduce environmental impact. By allowing people to share instead of buy new, it promotes resource efficiency and reduces the demand for new production. For instance, car-sharing services can lead to fewer cars on the road and less parking demand. Tool libraries mean fewer individual purchases of rarely used items. This collective utilization of resources can significantly decrease waste, consumption of raw materials, and carbon emissions associated with manufacturing and transport, leading to a more sustainable lifestyle.

Text C

Challenges for Gig Workers

While the sharing economy offers flexibility, it also presents significant challenges for the individuals providing the services, often referred to as "gig workers." These workers are typically classified as independent contractors rather than employees, meaning they often lack traditional benefits like health insurance, paid sick leave, and retirement plans. Their income can be unpredictable, dependent on demand and platform algorithms, and they may face intense competition. Concerns about fair pay, working conditions, and social security provisions for these workers are increasingly being raised globally.

Text D

The Convenience Factor for Consumers

For consumers, the sharing economy often offers unparalleled convenience and cost-effectiveness. Services can be accessed quickly and easily via smartphone apps, providing on-demand solutions that traditional businesses may not offer. Whether it's hailing a ride at a moment's notice or finding affordable accommodation in a popular city, the peer-to-peer model often provides more flexible and cheaper alternatives. This accessibility and efficiency are key drivers of its rapid adoption, allowing consumers to save money and find services tailored to their immediate needs.