Transport Market Failure and Government Intervention Flashcards
1
Q
Shadow price
A
A relative price that is proportional to the opportunity cost for the economy
2
Q
Hypothecation
A
a situation where revenue from a tax is directly allocated to some other purpose
3
Q
Road pricing
A
a direct charge for the use of a road space
4
Q
Road user charging
A
a form of road pricing where a flat-rate charge is made for the use of a stretch of road or access into a designated charging zone
5
Q
Congestion charging
A
a direct charge for access to a designated urban charging zone where the main purpose of the charge is to reduce congestion
