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Find out why these past few years, demand for public transport is gradually decreasing.
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Economic Coursework This project I am assigned to find out why these past few years, demand for public transport is gradually decreasing. There are many reasons why this happens. Demand for cars could have been in an increase over the past few years as this affects the demand for public transport, as it is a substitute good. This could also measure the elasticity of bus fare, how responsive it can be. So if there were more substitutes for public transport, it will mean it are elastics good. There are many other things which may cause congestion to be an economic problem. What is congestion charging? Congestion charging is a way of ensuring that those using valuable and congested road space make a financial contribution. It encourages the use of other modes of transport and is also intended to ensure that, for those who have to use the roads; journey times are quicker and...
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