Economics
Transport economics is used to understand both the relationship between the transport system and the wider economy and the complex network effects when there are multiple paths and competing modes for both personal and freight (road/rail/air/ferry) and where Induced demand can result in increased on decreased transport levels when road provision is increased by building new roads or decreased (for example California State Route 480). Roads are generally built and maintained by the public sector using taxation although implementation may be through private contractors). or occasionally using road tolls.
Public-private partnerships are a way for communities to address the rising cost by injecting private funds into the infrastructure. There are four main ones:
- design/build
- design/build/operate/maintain
- design/build/finance/operate
- build/own/operate
Economics and society depend heavily on efficient roads. In the European Union (EU) 44% of all goods are moved by trucks over roads and 85% of all people are transported by cars, buses or coaches on roads. The term was also commonly used to refer to roadsteads, waterways that lent themselves to use by shipping.
Read more about this topic: Road
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—Jacques Chirac (b. 1932)
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—James Thurber (1894–1961)
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—Willa Cather (1876–1947)