Scribd
Upload
174 views2 pages

Transport Economics

This document contains an exam for a Transport Economics mid-term. It includes 7 multiple choice questions, 6 true/false questions, and 6 longer answer questions covering topics like consumer and producer surplus, value of time, demand for transport, pricing strategies, and calculating travel time values. Students have 60 minutes to complete the exam which is worth a total of 25 points. The first multiple choice question is worth 7 points and the other questions are each worth 6 points.

Uploaded by

Ahmad Sina Sabawoon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
174 views2 pages

Transport Economics

This document contains an exam for a Transport Economics mid-term. It includes 7 multiple choice questions, 6 true/false questions, and 6 longer answer questions covering topics like consumer and producer surplus, value of time, demand for transport, pricing strategies, and calculating travel time values. Students have 60 minutes to complete the exam which is worth a total of 25 points. The first multiple choice question is worth 7 points and the other questions are each worth 6 points.

Uploaded by

Ahmad Sina Sabawoon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

KARDAN UNIVERSITY

FACULTY OF ECONOMICS – BSC ECONOMICS


TRANSPORT ECONOMICS – MID-TERM EXAM

Course Title: Transport Economics Exam Duration: 60 Minutes


Instructor: Ahmad Sina Sabawoon Program: Economics
Session: Evening Semester: Fall 2020
Date: 26 November, 2020 Max. Marks: 25
Instructions:
 Question 1 is compulsory (7 Marks).
 Question 2-6 are optional; you are required to answer any 3 of them (6 Marks for Each).
Section 1: Multiple Choice Questions; mention the right answer on your answer sheet

1.1. The sum of consumer surplus and producer surplus is called:


A. market surplus B. social welfare C. value chain surplus D. equilibrium surplus

1.2. If a traveler would pay $10 to reduce travel time by 10 minutes, then the traveler has a VOT of:
A. $100 per hour B. $60 per hour C. $10 per hour D. 0$ for less than 10 min

1.3. The aspect of project appraisal that deals with the cost and revenue of the enterprise responsible for the project is
known as:
A. economic Aspect B. business Aspect C. financial Aspect D. enterprise aspect

1.4. BCA Analysis stands for:


A. Basic Commerce Analysis B. Business Customer Analysis C. Benefit/Cost Analysis D. None

1.5. Demand for transport is:


A. derived demand B. autonomous demand C. direct demand D. elastic demand

1.6. Optimal Price is a price:


A. at which customer is satisfied.
B. lowest in the market, where no other company can compete.
C. net price, calculated after discount.
D. at which the seller can make the highest profit possible.

1.7. The sum of all individual supply quantities for a product is called:
A. total supply B. production supply C. summation supply D. market supply
---------------------------------------------------------------------------------------------------------------------------------------------------
Question 2. True/False Questions - mention the right answer on your answer sheet
2.1. Consumer surplus is the difference between the maximum price a consumer is willing to pay and the price he or she
actually pays.
A. True B. False
2.2. Profit is maximized when marginal revenue (MR) is greater to the marginal cost (MC).
A. True B. False
2.3. Price differentiation by either the number of trips or the length of the journey is known as third degree price
discrimination.
A. True B. False
2.4. Benefit/cost analysis and economic impact analysis are same.
A. True B. False
2.5. Modal split: attempts to predict the trips mode wise and provides useful information for transport policy in general
and in particular for investment decisions.
A. True B. False
2.6. VOR (value of travel time reliability) measures how much a traveler would be willing to pay to have a reliable trip in
terms of physical security.
A. True B. False

Question 3. Khan Abad is a city where 2 million people live; 40% of them have daily travels, out of which 20,000 go to
offices, 35,000 to personal work and remaining travel for miscellaneous purposes. Assume that, on average, people going
to offices, personal business and other purposes conduct 2, 5 and 4 trips per day respectively; calculate the number of
generated trips per month (30 days).

Question 4. The following mathematical relationship illustrates demand for travels in Jalal Abad City; go through the data
and answer the questions below:

Qd = 1000 + 0.4 (Population) + 0.2 (Income) – 0.3 (Price)

a. What does ‘1000’, ‘0.4, 0.2, 0.3’ and ‘+ sign’ and ‘- sign’ mean in this function; explain them in brief.
b. Calculate the travel demand for the following three situations:

Situation Population (Traveling) Monthly Income (Per Head – Price (Per Trip – Same Distance)
Traveling) in AFN in AFN
A 3,500 23,000 300
B 4,000 21,000 240
C 4,200 24,000 380

Question 5. Read the following statements and answer questions asked below each:

1. Statement: The demand for recreational travels is relatively inelastic.


Question: What is ‘relatively inelastic demand’? Why is demand for recreational travels relatively
inelastic?
2. Statement: The appropriateness of a pricing strategy depends on the goal at hand.
Question:
a. What do you think is ‘Appropriate Pricing Strategy’?
b. How are pricing strategies dependent on goals at hand?

Question 6. Go through the following table and answer the questions given below it:

Travelers Average time spent Working hours No. of working Monthly compensation
group in travel (Per Day) per day (Hours) days (Per Month) received (AFN)
A 1.5 Hours 8 25 1,2000
B 2.0 Hours 7 24 9,000
C 2.5 Hours 10 20 10,500

a. Calculate the value of daily travel time for each travelers’ group.
b. Calculate the monthly value of travel time for ‘B’ group.

BEST OF LUCK!

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy