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TRANSPORT ECONOMICS

TRANSPORT ECONOMICS. DEMAND. Transport. Transport is not a commodity Demand of transport is dependent on other commodities It is a Derived Demand. Fluctuates with the quantum of production and pattern of distribution of production Food grain, fruits and vegetables Movement of people

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TRANSPORT ECONOMICS

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  1. TRANSPORT ECONOMICS

  2. DEMAND

  3. Transport • Transport is not a commodity • Demand of transport is dependent on other commodities • It is a Derived Demand

  4. Fluctuates with the quantum of production and pattern of distribution of production • Food grain, fruits and vegetables • Movement of people • Automobiles, consumer durables, FMCG products

  5. Demand as a function of Taste • In case of passenger traffic • Safety of passenger • Reliability of transport services • Time taken • Punctuality of the transport services • Level of comfort offered

  6. In case of goods transport • Security of the goods • Reliability of the transport services • Cost of transportation • Time taken for transportation

  7. Supply of Transport services • It depends upon: • Cost of supply • Input-Output ratio • Input-Output ratio is used to analyse inter industry relationship in order to understand the inter dependencies and complexity of economy • Transport services are indivisible

  8. Pricing of Transport services • Pricing can be done in perfect competition and under monopoly • Prices of road transport is fixed based on perfect competition • Railways being in monopolistic market, its prices are administered by Government of India • In Air transport, after 1991, things have changed, and prices are determined by companies themselves.

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