Trust Is Not Essential Because Switching Costs Are Typically Low

question 14

True/False

Trust is not essential because switching costs are typically low in the sharing economy.

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Definitions:

Partnership Agreement

A contractual document among partners that outlines the terms, conditions, and operational procedures of a partnership business.

Personal Loan

An unsecured loan provided by financial institutions, based on the borrower's credit history and ability to pay back, for personal use.

Loan

Borrowed money that is expected to be paid back with interest.