pyramid scheme
pyramid scheme
English Definitions:
pyramid scheme (noun)
a fraudulent scheme in which people are recruited to make payments to the person who recruited them while expecting to receive payments from the persons they recruit; when the number of new recruits fails to sustain the hierarchical payment structure the scheme collapses with most of the participants losing the money they put in
pyramid scheme (Noun)
An illicit money-making investment scheme whereby early investors are paid primarily or wholly by later investors. Eventually all such schemes fail to the detriment of recent (later) investors.
Pyramid scheme
A pyramid scheme is a non-sustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public. Various forms of pyramid schemes are illegal in many countries including Albania, Australia, Austria, Brazil, Canada, China, Colombia, Denmark, the Dominican Republic, Estonia, France, Germany, Hong Kong, Hungary, Iceland, Iran, Italy, Japan, Malaysia, Mexico, Nepal, the Netherlands, New Zealand, Norway, the Philippines, Poland, Portugal, Romania, Russian Federation, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, the United Kingdom, and the United States. These types of schemes have existed for at least a century, some with variations to hide their true nature, and because of this, many people believe that all multilevel marketing plans are also pyramid schemes.
Pyramid scheme
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal. Pyramid schemes have existed for at least a century in different guises. Some multi-level marketing plans have been classified as pyramid schemes.
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"pyramid scheme." Kamus.net. STANDS4 LLC, 2024. Web. 19 Sep. 2024. <https://www.kamus.net/english/pyramid+scheme>.
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