- Join over 1.2 million students every month
- Accelerate your learning by 29%
- Unlimited access for just £4.99 per month
In the UK, a Young Person's railcard can be purchased for around 20. These railcards allow the holder 1/3 off most rail fares. Young people often debate whether or not it is worth purchasing a railcard. Explain this situation using budget constraints
The first 200 words of this essay...
In the UK, a Young Person's railcard can be purchased for around £20. These railcards allow the holder 1/3 off most rail fares. Young people often debate whether or not it is worth purchasing a railcard. Explain this situation using budget constraints and indifference curves and consider the impact of a rise in rail fares on this decision.
A Young Person's railcard can save a young person one third off most rail fares in Britain for a whole year at the initial purchase of £20. This can be used for long and short trips, during the weekend or weekday and also, when travelling by rail. In Britain, a £20 pounds railcard is often an incentive for young people to travel on rails more often because they allow the holder one-third off rail fares with each journey. Young people often debate whether or not this may be worth it. Some people do not use the rail as often as others so therefore, their level of happiness are lower than those who do; thus some people may be better off, worse off and some people may be indifferent towards the purchase of a rail card for discount.
Found what you're looking for?
- Start learning 29% faster today
- Over 150,000 essays available
- Just £4.99 a month
Not the one? We have 100's more
Microeconomics (view all)
- Production planning and control, plant location and layout.
- Why is consumer protection needed?
- Factors affecting price elasticity of demand.
- In manufacturing companies, the medium & long term is us...
- Define and explain the criteria for a "Pareto Optimum&q...
- Perfect competition versus Monopolistic competition
- Evaluation of an article written by Natasa Evripidou for the...
- Modigliani, along with his co-worker, Merton Miller, propose...
- Managerial Economics - the decision of firms to make or buy ...
- Carefully describe, also through a numerical example, how co...
""Yvette Agars. Senior History Teacher. Saint John's College. Whyalla S.A.
""M Singh. English. A Level Student.