OCR A2 Economics Private VS Private Transport
- Created by: Chloe Davey
- Created on: 17-12-12 16:58
Fullscreen
There is a big debate regarding the extent to which the private sector or public sector should control/provide transport
Private Sector
- Businesses trying to make profit
- Analyse private costs and benefits
- Ignore externalities
- Potential source of market failure
- However the private sector is efficient
- Quickest to respond to customer needs
- Easiest to raise funds
- Gets subsidies
Public Sector
- Motive of public service
- Not for profit
- Benefit of the people
- …
Comments
No comments have yet been made