MB M1V3 Reputation and Collaborative Consumption

What are the three words that would sum up your reputation? How would people describe your judgment, your knowledge, your behaviors, in different situations?

How has Sebastian Sandys' life been changed by being a host on Airbnb?

Select the option that best describes what Airbnb is and how it functions as a peer-to-peer marketplace:

• It is an online platform that connects individuals to list, discover, and book accommodations directly from each other.

• It is a subscription-based property management service that directly owns hotels.

• It is an online travel agency that offers fixed-rate bookings.

• It is a peer-to-peer car rental service.

Technology is creating a market for things that never had a marketplace before by facilitating the emergence of new markets for previously unmarketed products and services.

• It is facilitating the emergence of new markets for previously unmarketed products and services.

• It is restricting market growth for traditional products.

• It is solely focused on digital innovations with no effect on traditional markets.

• It is reverting markets back to pre-digital business models.

Identify the main idea behind collaborative consumption as described in the passage.

• It involves sharing underused assets among a community.

• It is the process of mass-producing goods for consumption.

• It refers to exclusive private ownership of products.

• It means renting goods exclusively for individual use.

The impact of collaborative consumption on Sebastian during the London riots was:

• It had a positive impact.

• It had a negative impact.

• It had no impact.

• It is not clear.

Some examples of marketplaces mentioned in the passage that are built on personal relationships are...

• House parties

• Flea markets

• Both house parties and flea markets

• None of the above

According to the passage, collaborative consumption is transforming the way we think about supply and demand by redefining the roles of producers and consumers.

• By reducing the need for centralized supply chains.

• By redefining the roles of producers and consumers.

• By increasing market volatility.

• By diminishing the importance of consumer preferences.

The passage indicates that the critical ingredients for marketplaces are network effects, trust, and selection.

• Network effects, trust, and selection

• Supply and demand mechanics

• Price, quality, and service

• All of the above

Who is Chris Mok and what is his connection to TaskRabbit?