The sharing economy can be characterised as only relating to the activity that involves peer to peer transactions. This can, therefore, be defined as an economic system where assets or services are shared between private individuals, for compensation, facilitated by the use of the internet.

 

The Sharing Economy is defined as a "collective name for activities aimed at reduced resource consumption through more efficient capacity utilization such as sharing access to goods and services ”. The idea of efficiency and employing underused resources is intrinsic to the idea of the sharing economy.