1. _______ is when demand exceeds supply on a given network at a given time period e.g. rush hours, school holidays etc.
- Excess demand
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Other questions in this quiz
2. London Congestion Charge and Low Emission Zone whereby it has been estimated that congestion has been cut by around?
3. Prices would start from as little as ____ a mile on rural country lanes. The maximum price would be _____ on busy motorways like the M25 at peak times.
- 2p, 1.34
4. What are the problems of road pricing?
- High set up costs of introducing and controlling road pricing, opportunity cost of this, cars - highly price inelastic - substitutes unreliable, displacement of road traffic, external costs to third parties
- High set up costs, opportunity cost of this, cars - highly price elastic, displacement theory, social costs to third parties
5. Road congestion contributes to air pollution, lack of traffic safety, waste of petrol, opportunity cost of sitting in traffic jams, cost to employers/ business time wasted could be spent producing products. Examples of?
- Negative externalities
- Positive externalities