Collaborative consumption is the shared use of a good or service by a group through an arrangement that divides the actual cost or purchase price.
 | | Term of the Day | Words to Know | | |  | | Collaborative Consumption | | Collaborative consumption is the shared use of a good or service by a group. Whereas with normal consumption an individual pays the full cost of a good and maintains exclusive access to it, with collaborate consumption multiple people have access to a good and bear its cost. A common example is ridesharing, whereby multiple people have access to transportation and pay for it, not just the owner of the car. | | Read More » | | Related to "Collaborative Consumption" | | | | Airbnb: Advantages and Disadvantages | | Airbnb offers travelers relatively inexpensive accommodations, while providing their hosts with an opportunity to earn some extra income from their property. But both parties should be aware of the risks. | | Read More » | | | Third Party | | A third party is an individual or entity that is involved in a transaction but is not one of the principals and has a lesser interest. | | Read More » | | | Sharing Economy | | The sharing economy is a peer-to-peer activity of acquiring, providing, or sharing access to goods and services often facilitated by an on-line platform. | | Read More » | | | Maintenance Expenses | | Maintenance expenses are the costs incurred to keep an item in good condition. Apartments, homes, and condominiums have expenses, but who pays them? | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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