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Transport - The movement of goods and people from one destination to another for a variety of personal and business purposes
- Essay length: 4062 words
- Submitted: 23/09/2003
The first 200 words of this essay...
* The movement of goods and people from one destination to another for a variety of personal and business purposes
* Measured in tonne/passenger kilometres or number of journeys.
* Derived Demand = not demanded for its own sake but for the need to transfer goods or passengers - dependent on the demand for these
* Can't be stored or transferred
* Affected by peak & off-peak demand (daily & seasonal)
* Supply/capital is indivisible - public transport can be at full capacity into an urban area at peak time, but empty on return journey = over supply at off-peak times.
* Continuously changing (passengers & freight)
* Generates negative externalities
* Accounts for 15% of GNP
Demand influenced by-
* Own price (buying and running)
* Price and quality of substitutes
* Price of complements
* Income (transport in general & particular mode of transport chosen) - travel expenditure increases with income, yet bus & coach fare expenditure decreases with income (inferior goods).
* Journey requirements (e.g. employment & personal needs)
* Leisure time (increasing = more holidays
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