Some Economic Characteristics of the Demand for and Supply of Passenger Transport Services

S.M. Ikhtiar Alam
Journal of Business Research, vol 4,2002
  The demand for and supply of passenger transport services have some unique characteristics which are not present in case of  demand for and supply of various goods and services. For instance, the demand for and supply of passenger transport depend on peak and off-peak time during a day, and weather conditions. One
of the most pronounced economic characteristics is that the demand for the vast majority of transport services is derived, and this derived nature of the demand  for transport services  explains another characteristic of the transport market which is the regular fluctuation in its demand over time. The derived nature of the demand for transport arises due to the fact that transport is not really demanded in its own right. Individuals travel because they want to benefit from the social, recreational, educational, employment, transaction, and other opportunities which become accessible with movement. This paper attempts to identify and explain some unique features of the demand for and supply of  passenger transport services which depend on some complex compounds of several interacting  factors.
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