Platform economy

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/platform-economy

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the economic model type?Digital intermediary facilitating multi-sided markets
2. What is the primary growth driver?Network effects leading to rapid scaling and market dominance
3. How do platforms like Uber or Airbnb help people?They match drivers with riders or hosts with guests, making it easier and faster to find what you need.
4. Why do platforms grow so fast?Because the more people join, the more useful the platform becomes, like a snowball that gets bigger.

Multi-sided Platform: A digital service that connects two or more distinct user groups to facilitate interactions.
Network Externalities: Benefits or costs experienced by a user due to the actions of other users on the same platform.