1. The role of the government in the transport market is to supply the transport services as required. True/False 2. Transport is viewed as derived demand. Derived demand in this context means which one of the following? a. Transport demand takes place over space and time. b. A nation’s ability and willingness to provide an adequate transport infrastructure. c. The demand for transport services is determined by the demand to transport goods and passengers from one place to another. d. An individual’s ability and willingness to buy transport services. 3. Inelastic demand means there is a substantial change in quantity demanded when another economic factor changes (typically the price of the good or service). True/False
1. The role of the government in the transport market is to supply the transport services as required.
True/False
2.
Transport is viewed as derived demand. Derived demand in this context means which one of the following?
Transport demand takes place over space and time.
A nation’s ability and willingness to provide an adequate transport infrastructure.
The demand for transport services is determined by the demand to transport goods and passengers from one place to another.
An individual’s ability and willingness to buy transport services.
3. Inelastic demand means there is a substantial change in quantity demanded when another economic factor changes (typically the price of the good or service).
True/False
4. Direct costs incurred by the users and operators of transport services are also known as external costs.
True/False
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