Exam Practice 1

Do this essay as a mock

a) Explain how market failure exists in Transport (10 mks)
b) Government measures to intervene in transport markets to correct market failure can be classified as demand or supply side. Explain and evaluate the demand and supply side policies. (15 mks)




Research this essay and then write it out in 1 hour

5 (a) Explain why barriers to entry are very important in determining the degree of competition in transport markets (10 mks)
(b) With reference to examples, analyse how deregulation has sought to produce competitive markets for local bus services in Britain and for European air transport services (15 mks)

Exam Practice 2

Do this essay as a mock

a) Should Aviation pay for its external costs? (10 mks)
b) Evaluate the use of CBA as a tool for investment analysis (15 mks)



Research this essay and then write it out in 1 hour
6 (a) With reference to examples examine the argument for and against the privatisation of transport (10 mks)
(b) Explain how the effectiveness of rail privatisation can be evaluated (15 mks)

Exam Practice 3

Do this essay as a mock

a) Outline the main characteristics of transport investment (10 mks)
b) Evaluate the arguments for and against the Private Funding Initiative (15 mks)




Research this essay and then write it out in 1 hour

3 (a) With reference to data, explain the respective roles of the private sector and the public sector in resource allocation decisions for transport (10 mks)
(b) Evaluate the different criteria used by the private and public sectors in making investment decisions in transport (15 mks)

Exam Practice - 4

Do this essay as a mock

a) Explain how the theory of the firm is useful in analysing transport markets (10 mks)
b) Explain how price discrimination appears in the transport market (15 mks)



Research this essay and then write it out in 1 hour

2. (a) With reference to data, carefully explain how increased transport use leads to negative externalities and market failure (10 mks)
(b) Evaluate the use of indirect taxation and subsidies to regulate transport use (15 mks)

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)

Xmas Gift

The Jan 2010 questions well, 'predicted'(I have to say that or they will recall the questions) - will appear here later today....

Final tips for the exam this afternoon

Likely questions:

1. What is derived demand and why is the demand for transport by rail derived? (10)
Evaluate government policieis aimed at increasing supply in the local bus market. (15)

2. Explain road pricing. (10)
Is road user charging appropriate to reduce the market failure arising from traffic congestion (urban and motorway) (15)

3. How is contestability related to efficiency within a market? (10)
'The entry of low cost airlines has increased efficiency in the air passenger transport market' Discuss. (15)