Comprehension
Read the passage and answer the questions that follow.
If we look around us at the things we have purchased at some point in our lives, we would no doubt notice that not everything we own is being put to good use: the thick woolen coat that we thought looked trendy despite the fact that we live in a tropical country, the smartphone that got put away when we bought ourselves the newest model, the car that only gets used at the weekends, or even the guest room in our house that somehow got turned into a storeroom.
Those underutilised items may seem useless to some but could be an asset to others. With the advent of the internet, online communities have figured out a way to generate profit from the sharing of those underused assets. Using websites and social media groups that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. And this is known as the sharing economy.
These democratised online platforms are providing a chance for people to make a quick buck or two. To give an example, busy parents previously might not have bothered with setting up a stall at the local market or car boot sale to sell their children’s old equipment, but with online marketplaces, parents are now able to sell on those hardly worn baby clothes that their children have outgrown and the expensive pushchairs and baby equipment they have invested in, so as to put some cash back into their pockets. Businesses have also caught on to the profitability of the sharing economy and are seeking to gain from making use of those underutilised resources. A business model that has rapidly risen in popularity sees companies providing an online platform that puts customers in contact with those who can provide a particular product or service. Companies such as Airbnb act as a middleman for people to cash in on their unused rooms and houses and let them out as lucrative accommodation. Another example is Uber, which encourages people to use their own personal cars as taxis to make some extra cash in their free time.
This move towards a sharing economy is not without criticisms. Unlike businesses, unregulated individuals do not have to follow certain regulations, and this can lead to poorer and inconsistent quality of goods and services and a higher risk of fraud. Nevertheless, in the consumerist society we live in today, the increased opportunities to sell on our unwanted and underused goods can lead to a lesser impact on our environment
If we look around us at the things we have purchased at some point in our lives, we would no doubt notice that not everything we own is being put to good use: the thick woolen coat that we thought looked trendy despite the fact that we live in a tropical country, the smartphone that got put away when we bought ourselves the newest model, the car that only gets used at the weekends, or even the guest room in our house that somehow got turned into a storeroom.
Those underutilised items may seem useless to some but could be an asset to others. With the advent of the internet, online communities have figured out a way to generate profit from the sharing of those underused assets. Using websites and social media groups that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. And this is known as the sharing economy.
These democratised online platforms are providing a chance for people to make a quick buck or two. To give an example, busy parents previously might not have bothered with setting up a stall at the local market or car boot sale to sell their children’s old equipment, but with online marketplaces, parents are now able to sell on those hardly worn baby clothes that their children have outgrown and the expensive pushchairs and baby equipment they have invested in, so as to put some cash back into their pockets. Businesses have also caught on to the profitability of the sharing economy and are seeking to gain from making use of those underutilised resources. A business model that has rapidly risen in popularity sees companies providing an online platform that puts customers in contact with those who can provide a particular product or service. Companies such as Airbnb act as a middleman for people to cash in on their unused rooms and houses and let them out as lucrative accommodation. Another example is Uber, which encourages people to use their own personal cars as taxis to make some extra cash in their free time.
This move towards a sharing economy is not without criticisms. Unlike businesses, unregulated individuals do not have to follow certain regulations, and this can lead to poorer and inconsistent quality of goods and services and a higher risk of fraud. Nevertheless, in the consumerist society we live in today, the increased opportunities to sell on our unwanted and underused goods can lead to a lesser impact on our environment
Question: 1
The word ‘advent’ in paragraph 2 means:
The word ‘advent’ in paragraph 2 means:
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"Advent" typically refers to the arrival or beginning of something significant, such as a new trend or development.
Updated On: Apr 19, 2025
- incidence
- emergence
- admittance
- resurgence
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The Correct Option is B
Solution and Explanation
The word "advent" in the context of the passage refers to the "emergence" of a new way of sharing resources, which aligns with the definition of advent.
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Question: 2
The author uses the examples of Airbnb and Uber to highlight:
The author uses the examples of Airbnb and Uber to highlight:
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Look for the broader context in examples, which in this case demonstrates the mutual benefit derived from sharing underused resources.
Updated On: Apr 19, 2025
- the manner in which people can use online platforms to make quick and easy money
- the ways in which underutilised resources can be put to good use for mutual benefit
- the risk that people run of being provided with poor quality and fraudulent services
- the democratic processes available online for the sharing of goods for quick profits
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The Correct Option is B
Solution and Explanation
Airbnb and Uber are used to illustrate how underutilised resources (such as rooms or cars) can be shared for mutual benefit, providing both parties with value.
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Question: 3
Which of the following sentences is NOT stated in the passage?
Which of the following sentences is NOT stated in the passage?
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Read through the passage carefully to check whether a sentence or claim is directly stated or implied.
Updated On: Apr 19, 2025
- There is a huge online market for second-hand goods
- Airbnb is an example of how underutilised accommodation can be put to profitable use
- A sharing economy provides users with hassle-free, reliable and high quality service
- A sharing economy has a positive impact on the environment
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The Correct Option is D
Solution and Explanation
While the passage touches on various benefits of the sharing economy, it does not mention any environmental impacts.
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Question: 4
Which of the following options best captures the main idea of this text?
Which of the following options best captures the main idea of this text?
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When identifying the main idea, focus on the central theme or concept that ties all the details together.
Updated On: Apr 19, 2025
- utilise resources that haven’t been fully exploited for mutual benefit
- get rid of things they have bought but hardly used
- use online platforms that encourage entrepreneurship
- make money by selling goods and services online
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The Correct Option is A
Solution and Explanation
The text primarily discusses how the sharing economy involves utilising underused resources for mutual benefit, which is best reflected by option (1).
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Question: 5
This extract is most likely from:
This extract is most likely from:
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When determining the source of a passage, focus on the context and style of the writing, as they can provide clues about its origin.
Updated On: Apr 19, 2025
- a journal article on economics
- a talk on online economic trends
- an interview on business models
- a magazine article on consumption
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The Correct Option is D
Solution and Explanation
The content of the passage is related to consumerism and the sharing economy, making it most likely to come from a magazine article discussing consumption. The other options are less relevant to the context of the text.
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