Transport economics is a branch of economics founded in 1959 by American economist John R. Meyer that deals with the allocation of resources within the transport sector. It has strong links to civil engineering. Transport economics differs from some other branches of economics in that the assumption of a spaceless, instantaneous economy does not hold. People and goods flow over networks at certain speeds. Demands peak. Advance ticket purchase is often induced by lower fares. The networks themselves may or may not be competitive. A single trip may require the bundling of services provided by several firms, agencies and modes.
Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different markets. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand. For price discrimination to succeed, a firm must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc. All prices under price discrimination are higher than the equilibrium price in a perfectly-competitive market. However, some prices under price discrimination may be lower than the price charged by a single-price monopolist.
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product.
Bus rapid transit (BRT), also called a busway or transitway, is a bus-based public transport system designed to have better capacity and reliability than a conventional bus system. Typically, a BRT system includes roadways that are dedicated to buses, and gives priority to buses at intersections where buses may interact with other traffic; alongside design features to reduce delays caused by passengers boarding or leaving buses, or paying fares. BRT aims to combine the capacity and speed of a metro with the claimed flexibility, lower cost and simplicity of a bus system.
A rush hour or peak hour is a part of the day during which traffic congestion on roads and crowding on public transport is at its highest. Normally, this happens twice every weekday: once in the morning and once in the afternoon or evening, the times during which the most people commute. The term is often used for a period of peak congestion that may last for more than one hour.
A share taxi is a mode of transport which falls between a taxicab and a bus. These vehicles for hire are typically smaller than buses and usually take passengers on a fixed or semi-fixed route without timetables, but instead departing when all seats are filled. They may stop anywhere to pick up or drop off their passengers. Often found in developing countries, the vehicles used as share taxis range from four-seat cars to minibuses. They are often owner-operated.
London Buses is the subsidiary of Transport for London (TfL) that manages most bus services in London, England. It was formed following the Greater London Authority Act 1999 that transferred control of London Regional Transport (LRT) bus services to TfL, controlled by the Mayor of London.
In the context of European Union law, a public service obligation or PSO is an obligation imposed on an organisation by legislation or contract to provide a service of general interest within EU territories. PSOs may operate in any field of public service, but postal services, social services, energy, transport and banking are specific sectors where the concept is relevant.
A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions.
In British slang, a booze cruise is a brief trip from Britain to France or Belgium with the intent of taking advantage of lower prices, and buying personal supplies of (especially) alcohol or tobacco in bulk quantities. This is a legally allowed process not to be confused with smuggling.
The transport system of Kolkata, a city in India, is a mix of modern mass rapid transport and old transport modalities like rickshaws. Kolkata is connected to the rest of India by the National Highways, the extensive network of the Indian Railways, and by air. The most traffic to Northeast India route via Kolkata.
Translink is the public transit agency for Queensland, and is part of the Department of Transport and Main Roads. Translink was first introduced by the Queensland Government in June 2003 to orchestrate bus, ferry, rail and light rail services. Translink works with Brisbane Airtrain, Transport for Brisbane, Transdev, Queensland Rail and other operators to provide services. Translink operates an integrated ticketing system and the go card system to allow the use of one ticket on multiple services.
Free public transport, often called fare-free public transit or zero-fare public transport, refers to public transport funded in full by means other than by collecting fares from passengers. It may be funded by national, regional or local government through taxation, or by commercial sponsorship by businesses. Alternatively, the concept of "free-ness" may take other forms, such as no-fare access via a card which may or may not be paid for in its entirety by the user.
In public transportation, schedule adherence or on-time performance (OTP) refers to the level of success of the service remaining on the published schedule. On time performance, sometimes referred to as on time running, is normally expressed as a percentage, with a higher percentage meaning more vehicles are on time. The level of on time performance for many transport systems is a very important measure of the effectiveness of the system.
qconnect is a network of integrated public passenger transport services that cover subsidised and/or regulated bus, coach and aviation networks in Regional Queensland, Australia. It was introduced by the Queensland Government in December 2007, and is an agency operated by the Department of Transport and Main Roads (TMR). qconnect provides public transport services and greater connectivity and accessibility of services throughout regional, rural and remote Queensland by working with contracted transport operators.
Public transport bus services are generally based on regular operation of transit buses along a route calling at agreed bus stops according to a published public transport timetable.
Public transportation in the United States refers to publicly financed mass transit services across the nation. This includes various forms of bus, rail, ferry, and sometimes, airline services. Most established public transit systems are located in central, urban areas where there is enough density and public demand to require public transportation. In more auto-centric suburban localities, public transit is normally, but not always, less frequent and less common. Most public transit services in the United States are either national, regional/commuter, or local, depending on the type of service. Furthermore, sometimes "public transportation" in the United States is an umbrella term used synonymous with "alternative transportation", meaning any form of mobility that excludes driving alone by automobile. This can sometimes include carpooling, vanpooling, on-demand mobility, infrastructure that is fixated toward bicycles, and paratransit service.
In Queensland, Australia, public bus services are coordinated by the Queensland Government's Department of Transport and Main Roads and provided by over 1000 operators. The coordination of public bus transport generally falls under three schemes: TransLink services, QConnect services and the remaining rural/regional school services. Some operators also provide entirely private bus services in Queensland which are not subject to the same route and ticketing regulation as the public route providers, or segments thereof, are.
Public transport is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typically managed on a schedule, operated on established routes, and that charge a posted fee for each trip. There is no rigid definition; the Encyclopædia Britannica specifies that public transportation is within urban areas, and air travel is often not thought of when discussing public transport—dictionaries use wording like "buses, trains, etc." Examples of public transport include city buses, trolleybuses, trams and passenger trains, rapid transit and ferries. Public transport between cities is dominated by airlines, coaches, and intercity rail. High-speed rail networks are being developed in many parts of the world.
The main public transport in the Netherlands for longer distances is by train. Long-distance buses are limited to a few missing railway connections. Regional and local public transport is by bus, and in some cities by metro and tram. There are also ferries.
