Elasticity and demand in transport
- Created by: Jade
- Created on: 17-11-12 14:48
Other questions in this quiz
2. Firms can use price elasticity of demand to predict?
- All of the answers
- the effect of a change in fares on quantity demanded
- the effect of a change in fares on total revenue and expenditure
- the effect of a change in indirect tax e.g. road charging or fuel duty on price and quantity demanded
- effects of price discrimination in peak/off peak travel.
3. Governments and firms use YED estimates to predict the impact on demand and revenues of ECONOMIC GROWTH
- The demand for luxury items such as bus travel (negative YED) decreases more than products such as air travel
- The demand for luxury items such as air travel (high positive YED) increases more than products with a low YED such as bus travel
- The demand for luxury items such as air travel (low positive YED) increases more than products with a high YED such as bus travel
4. Buses are perceived as?
- A poor substitute for other modes of transport
- A good substitute for other modes of transport
- A reliable substitute for other modes of transport
5. Cars are predominately used by ?
- High income groups
- Low income groups
- Adults
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