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picture1_Production Pdf 193481 | Tec711s Unit 5 Transport Cost 2


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File: Production Pdf 193481 | Tec711s Unit 5 Transport Cost 2
unit5 transport cost transport economics by immanuel nashivela outline in the course of this unit you will learn about the theory of production definitions of technical cost and allocative efficiency ...

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          UNIT5 
             
       TRANSPORT COST 
     Transport economics [TEC711S]  
       By: Immanuel Nashivela 
             
            outline 
  In the course of this Unit, you will 
  learn about: 
    – The theory of production 
    – Definitions of technical, cost and allocative efficiency 
    How time is divided in economics 
    – How transport costs behave in the short and long runs 
    – Returns to scale and economies of scale in the 
    transport industries  
    – The relevance of production costs to the supply of 
    transport services 
    
               Introduction  
      
   • In retrospect to elasticity of demand which 
     concentrates on the demand side of the 
     market, cost of production concentrate on the 
     supply side of the market.  
   • Definition of Transport cost: the expenses 
     involved in moving products or assets to a 
     different place, which are often passed on to 
     consumers.  
       Classes or Types of cost 
  • private costs - costs that impact on the individual user 
   of a particular mode of transport who directly benefits 
   from undertaking a journey 
    – E.g. financial costs involved, such as the fare in the case of 
     public transport, as well as non financial costs, such as the 
     time involved in undertaking the journey (generalised cost) 
    
  • public costs - costs of transport that fall on non users 
   of the transport service who do not benefit from that 
   transport service. 
    – E.g. polluted air, the congested road, noise and visual 
     intrusions. 
    
    
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...Unit transport cost economics by immanuel nashivela outline in the course of this you will learn about theory production definitions technical and allocative efficiency how time is divided costs behave short long runs returns to scale economies industries relevance supply services introduction retrospect elasticity demand which concentrates on side market concentrate definition expenses involved moving products or assets a different place are often passed consumers classes types private that impact individual user particular mode who directly benefits from undertaking journey e g financial such as fare case public well non generalised fall users service do not benefit polluted air congested road noise visual intrusions...

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