Exam Practice - 5

Do this essay as a mock

a) Explain how the concept of elasticity of demand is used in Transport. (10 mks)

b) Outline the main sources of uncertainty in transport forecasts and evaluate the importance of transport to the economy (15 mks)

Research this essay and then write it out in 1 hour

1. (a) With reference to data, explain how and why economists make forecasts of transport demand (10 mks)

(b) How can the importance of the transport sector to the UK economy be assessed? (15 mks)

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