The Sharing Economy is an improved way of utilizing limited resources and scarce assets through the concept of sharing. The sharing of resources increases the utilization rate of time and resources so there will be reduced production and consumption of new goods. Since less is produced while increasing their usage by other, wastage is also much reduced.
The Sharing Economy also enables participants (households and businesses) to monetise items that have low usage or even in storage, thereby generating a separate source of income from existing assets and services. Everyday items can be shared with green win-win outcomes.
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ONG Gin Keat
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