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TRL2602 (ANSWERS) Assignment 1 Due: 18th August 2023 | Referencing, Reference List and table of contents included for easy access to the answers! Good luck! R50,00
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TRL2602 (ANSWERS) Assignment 1 Due: 18th August 2023 | Referencing, Reference List and table of contents included for easy access to the answers! Good luck!
TRL2602 (Transport Economy) Assignment 1 Semester 2 2023. Due: 18 August 2023. Referencing, Reference List and table of contents included for easy access to the answers! Good luck!
, TRL2602
Transport Economy
Assignment 1
Semester 2 2023
Due date: 18 August 2023
Contents
Question 1 .................................................................................................................. 1
1.1 Identify and discuss the reasons why transportation in the economy is
important................................................................................................................. 1
1.2 Discuss the economic impact the 2022 floods experienced in KZN (KwaZulu
Natal) has had on transport economics in South Africa. ......................................... 3
Extra: ...................................................................................................................... 4
1.3 Explain in detail what is meant by short term equilibrium in a market that is
characterised by perfect competition and illustrate your answer by referring to the
relevant graph. ........................................................................................................ 6
Extra: ...................................................................................................................... 7
References ................................................................................................................. 9
Question 1
1.1 Identify and discuss the reasons why transportation in the economy is
important.
Transportation is a cornerstone of the economy, serving multiple essential functions.
It constitutes a significant segment of a nation's overall economic output,
underpinning and reinforcing both national and regional economic frameworks
(Britannica, n.d.). As the backbone of businesses, transportation seamlessly
connects consumers to a diverse array of goods and services, facilitating global
mobility and commerce (Curious Desire, 2023). Beyond this, it significantly …….
1
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