TRL2602
ASSIGNMENT 1 (SEMESTER 1)..
DUE DATE: 20 March 2025..
PREVIEW:
QUESTION 1
1.1 Briefly explain the role of transport and competition in the economy. (4)
ANSWER:
Transport and competition play pivotal roles in shaping the economy by influencing trade, connectivity,
and overall economic efficiency.
Transport is the backbone of the economy as it facilitates the movement of goods, services, and people.
Without an efficient transport system, businesses cannot reach their markets, raw materials cannot be
delivered to factories, and workers cannot commute to their places of employment. Transport, therefore,
enables economic activity to take place, contributing to productivity and economic growth. For instance,
a well-functioning transport system reduces costs for producers, making goods more affordable and
accessible to consumers.
Competition in the transport sector encourages innovation, efficiency, and improved service quality.
When multiple transport companies compete, they strive to offer better prices, faster services, and more
customer-friendly options. This benefits consumers and fosters a dynamic, responsive market, driving
down costs while increasing overall service standards. The presence of competition in the transport
sector can also lead to reduced monopolies, thus preventing market manipulation or inflated prices.
1.2 What two groups of users have a need for transport? Explain in full how we distinguish between
these two groups. (4)
ANSWER:
Disclaimer:
The two main groups of transport users are passengers and freight users. These two groups differ
The materials provided are intended for educational and informational purposes only. They should not be
significantly in terms of their needs, priorities, and the type of transport services they require.
submitted as original work or used in violation of any academic institution's policies. The buyer is solely
responsible for
Passengers: how
This the materials
group refers toare used.
individuals who require transport for personal or business purposes.
They use
ASSIGNMENT 1 (SEMESTER 1)..
DUE DATE: 20 March 2025..
PREVIEW:
QUESTION 1
1.1 Briefly explain the role of transport and competition in the economy. (4)
ANSWER:
Transport and competition play pivotal roles in shaping the economy by influencing trade, connectivity,
and overall economic efficiency.
Transport is the backbone of the economy as it facilitates the movement of goods, services, and people.
Without an efficient transport system, businesses cannot reach their markets, raw materials cannot be
delivered to factories, and workers cannot commute to their places of employment. Transport, therefore,
enables economic activity to take place, contributing to productivity and economic growth. For instance,
a well-functioning transport system reduces costs for producers, making goods more affordable and
accessible to consumers.
Competition in the transport sector encourages innovation, efficiency, and improved service quality.
When multiple transport companies compete, they strive to offer better prices, faster services, and more
customer-friendly options. This benefits consumers and fosters a dynamic, responsive market, driving
down costs while increasing overall service standards. The presence of competition in the transport
sector can also lead to reduced monopolies, thus preventing market manipulation or inflated prices.
1.2 What two groups of users have a need for transport? Explain in full how we distinguish between
these two groups. (4)
ANSWER:
Disclaimer:
The two main groups of transport users are passengers and freight users. These two groups differ
The materials provided are intended for educational and informational purposes only. They should not be
significantly in terms of their needs, priorities, and the type of transport services they require.
submitted as original work or used in violation of any academic institution's policies. The buyer is solely
responsible for
Passengers: how
This the materials
group refers toare used.
individuals who require transport for personal or business purposes.
They use
