1. What are the implications for demand in the short and long r
The demand for road transport is a derived demand, derived from the demand to transfer both the population and goods between different locations (Griffiths and Wall. et al 1999) and is heavily influenced by both time and space, subjected to regular fluctuation creating the characteristic peak and off peak situation upon urban roads. This results from the immediate ... low, generally less than 1, suggesting that price changes would have little effect in the short term on the demand of road transport and therefore would be an inelastic good (Maddison et al. 1996) Over time it can often be seen...
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