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  3. University Of Johannesburg (UJ)
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  5. Transport economics 1A (TRE11A1)

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The document summarises the markets of transport

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  • Course
  • Transport economics 1A (TRE11A1)
  • Institution
  • University Of Johannesburg (UJ)
  • Book
  • The Economics of Transport

The document is directly summarised directly from the textbook. It gives a clear and concise summary of the Markets of transport services. With a some hints from the lecture class.

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Document information

  • April 14, 2024
  • 44
  • 2023/2024
  • Class notes
  • Mr jacobs
  • Class 3

Subjects

  • every important thing you need for chapter 3

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  • University of Johannesburg (UJ)
  • Transport economics 1A (TRE11A1)
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CHAPTER 3
THE MARKET FOR TRANSPORT SERVICES

,LEARNING OUTCOMES
By the end of this chapter, you should be able to:
•Describe the determinants of demand and supply of
transport services;
•Explain the factors that influence travel demand;
•Explain the underlying economic principles of matching
supply with demand;
•Explain the role of the price mechanism in balancing supply
and demand of transport services.


2

,INTRODUCTION
This chapter will focus on the main factors that
impact upon the demand and supply of transport
services.
Many of the problems associated with the provision
of transport services and facilities are because of
the market as such does not work, and hence we
need to consider first how it ‘should’ work before
going to consider why that is not always the case
and the possible solutions.

3

, INTRODUCTION
Definition of a ‘market’
A market is a meeting place
for buying and selling



Definition of a ‘marketplace’
May not be an actual
market place!




4

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