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Transportation Economics > Part 1 > Flashcards

Part 1 Flashcards

1
Q

Why transport has experienced major changes in recent years

A

Governments worldwide have become
increasingly aware of the need to introduce
effective ways of containing the use of the
private car, both as a means of tackling congestion and as a result of the negative
environmental impacts its use entails.

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2
Q

What are the negative impacts that arises with transportation

A

Air pollution noise and visual intrusion

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3
Q

Is the government still dominant in owning transportation companies?

A

There has been a regulatory change and a reduction in state ownership of transport

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4
Q

Define

Transport Economics

A

Study of the movement of people and goods over space and time. It is a branch of economics that deals with the allocation of resources within the transport sector.

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5
Q

What is the relationship between traditional microeconomics & transport economics?

A

Traditional microeconomics is just a special case of transport economics, with fixed space and time, and where the good being moved is money.

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6
Q

What are the Topics traditionally associated with Transport Economics

A

Privatization, Nationalization, Regulation, Pricing, Economic Stimulus, Financing, Funding, Expenditures, Demand, Production, and Externalities.

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7
Q

What are Transportation means

A

Cars, ships, train, planes & pipes

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8
Q

Transportation Modes

A

1- land roads for cars , trucks , … etc.
2- railways for trains.
3- air for planes
4- Pipelines for pipe transportations (gases and liquids)
5- Sea for ships.

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9
Q

What are the advantages of land roads?

A
  1. Less capital outlay
  2. Door to Door service
  3. Service in rural areas
  4. Flexible Service
  5. Suitable for Short Distance
  6. Lesser Risk of Damage in Transit
  7. Saving in Packing Cost
  8. Rapid Speed
  9. Less Cost
  10. Private Owned Vehicles
  11. Feeder to other Modes of Transport
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10
Q

What are the disadvantages of land roads?

A
  1. Seasonal Nature
  2. Accidents and Breakdowns
  3. Unsuitable for Long Distance and Bulky Traffic
  4. Slow Speed
  5. Lack of Organization
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11
Q

Why is one of the advantages of land roads is less capital outlay

A

Required much less capital Investment as compared to other modes of transport such as railways and air transport.

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12
Q

How does the land roads have a lesser risk of damage tansit

A

As the intermediate loading and handling is avoided, there is lesser risk of damage, breakage etc. of the goods in transit.

road transport is most suited for transporting delicate goods like chinaware and glassware

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13
Q

What is another advantage that is associated with lesser risk of damage transit?

A

Saving in packing cost

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14
Q

How less cost is an advantage for land roads?

A

The actual cost is less because the motor transport saves in packing costs and the expenses of intermediate loading, unloading and handling charges.

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15
Q

What is the lack of organization disadvantage of land roads

A

The root transport is comparatively less organized more often it is irregular and on undependable

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16
Q

List railway transportation advantages

A
  1. Cost effective
  2. more environmentally friendly
  3. Large coverage areas
  4. capable of hauling heavy loads
  5. more reliable
  6. frieght by rail is efficient
  7. provide employment opportunities
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17
Q

Disadvantages of railway transportation

A
  1. huge capital outlay
  2. lack of flexibility
  3. lack of door to door service
  4. Unsuitable for short distance and small loads
  5. no rail service
  6. Under-utilized capacity
  7. significant contributed of sound and air pollution
18
Q

How can railway transportation be cost effective

A

Train can take to your destination quickly and fuel costs are much lower than other forms of transport

19
Q

How can trains be more reliable

A

They run on a track system which is less likely to be obstructed by traffic or other events that could cause delays

20
Q

What is the result of trains carrying more goods at a much cheaper costs than trucks

A

It makes them a boon for most businesses

21
Q

True or False

Transport Economics is just a special case of the traditional Microeconomics

A

False

While transport economics encompasses a broader context, traditional microeconomics can be seen as a simplified version within that framework

22
Q

Given that road transport provide door to door or warehouse to warehouse service, This Help Reduces __________

A

Cartage, loading and unloading expenses

23
Q

Why Rail freight is an efficient way to
move goods?

A

It’s not as expensive as trucking

24
Q

The Result of this statement:

Trains can often carry more
cargo per hour than trucks or ships

Cargo refers to the goods carried by a ship, aircraft, or other large vehicle

A

making it a cost-effective solution for transporting both goods and people

25
Q

Examine the following:

The relationship between flexibilty and Under-utilised Capacity in Railway Transportation

A

Rail transport is less flexible than other modes of transportation like road and air, which makes it difficult for railways to quickly adapt in times of demand shifts or emergencies.

26
Q

How can Rail shipping be more environmentally freindly?

A

It takes approximately a third of the amount of time for a train to arrive at its destination when compared to road or water transport

27
Q

Define:

Speed

A

How quickly goods or passengers can be transported

E.g. High-speed trains for urgent cargo or express passenger travel.

It Impacts efficiency, delivery times, and overall effectiveness.

28
Q

Define:

Frequency

A

How often transport services operate.

E.g. Daily commuter train services ensure regular connectivity.

It Provides convenience and flexibility.

29
Q

Define:

Reliability

A

Consistency and predictability of transport services.

E.g. Reliable trains adhere to timetables and minimize delays.

Passengers and businesses rely on consistent schedules.

30
Q

Define:

Cost

A

Considerations related to expenses.

E.g. Infrastructure investment, operational costs, ticket prices.

The importance of Balancing cost-effectiveness with quality is addresssed here

31
Q

Define:

Service Quality

A

Aspects that enhance user experience.

E.g. Comfort, safety, accessibility, clear communication.

32
Q

Name the components:

Transport Distribution Analysis

A
  1. Speed
  2. Frequency
  3. Reliability
  4. Cost
  5. Service Quality
33
Q

True or False:

operator devises a tariff which will maximize revenue and optimize fleet use

A

True

34
Q

What does freight rates depend on

A
  1. Direct, indirect, fixed and variable cost
  2. Value of the marketed goods
  3. Line trade and scheduled air freight services
  4. Freight Forwarder
  5. Quality of the service.

Freight forwarders act as intermediaries between shippers and carriers. They arrange transportation, handle documentation, and negotiate rates. Their expertise ensures efficient cargo movement.

35
Q

Define:

Entertaining Sustainable Transport

A

Is the transport that does not endanger public health and environmental systems

36
Q

What is the goal of sustainable transportation

A

Is to emphasize that environmental, social and economic considerations are taken into consideration, when making the decisions related, or affecting the transportation activity.

37
Q

As of Transportation Economics

Micro Economics defines

A
  • Transportation demand
  • Transportation supply
  • Application on D&S
  • Production & cost analysis
  • Decision making (pricing)
  • TC & TR approach
  • MC & MR approach.
38
Q

As of Transportation Economics

Macro Economics defines

A
  • Importance of Transportation in the
    national economy
  • Transportation as source of economic
    foreign exchange.
  • Transportaion as services or product.
  • Transportation system:
    a)Advantage
    b) Disadvatgage
  • Transportation distribution analysis
39
Q

Evaluating the suitability of transport Mode of an International Consignment

A

The exporter should regularly check if his current transport mode is still suitable for his business needs and market conditions.

40
Q

Define:

Customer’s Choice

A

The preferences of the buyer regarding the delivery time, cost, or quality of the goods.

A buyer may prefer air transport for urgent or high-value goods.

41
Q

Define:

Nature of the Commodity

A

The type and quantity of the goods being exported, such as perishables, non-perishables, breakables, hazardous, or valuable goods.

Perishable goods may require refrigerated transport or fast delivery.

42
Q
A

Transportation Economics (3 decks)

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