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Economics Of Car Use
Compared to other popular modes of passenger transportation, the car has a relatively high cost per person-distance traveled. The income elasticity of demand, income elasticity for cars ranges from very elastic in poor countries, to inelastic in rich nations. The advantages of car usage include wikt:on demand, on-demand and door-to-door travel, and are not easily substituted by cheaper alternative modes of transport, with the present level and type of auto specific infrastructure in the countries with high auto usage. Public costs related to the car are several including congestion and effects related to emissions. Private benefits The benefits of using a car differ by many factors, in regard to location and culture. One general benefit is availability of use which, when coupled with public support via infrastructure (such as roads or fuel stations), can allow highly flexible movement and transportation. Because public transportations are not as well omnipresent and normally don ...
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Income Elasticity Of Demand
In economics, the income elasticity of demand is the responsivenesses of the quantity demanded for a good to a change in consumer income. It is measured as the ratio of the percentage change in quantity demanded to the percentage change in income. If a 10% increase in Mr. Ruskin Smith's income causes him to buy 20% more bacon, Smith's income elasticity of demand for bacon is 20%/10% = 2. * Mathematical definition :\epsilon_d = \frac The point elasticity version, which defines it as an instantaneous rate of change of quantity demanded as income changes, is as follows. For a given Marshallian demand function Q(I,\vec) , with arguments income and a vector of prices of all goods, :\epsilon_d = \frac\frac This can be rewritten in the form :\epsilon_d = \frac For discrete changes the elasticity is (using the arc elasticity) :\epsilon_d= \times =\times , where subscripts 1 and 2 refer to values before and after the change. Interpretation The most commonly used elasti ...
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Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit (economics), profit or Reserve (accounting), reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to debt, borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the ba ...
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Ford Motor Company
Ford Motor Company (commonly known as Ford) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom and a 32% stake in China's Jiangling Motors. It also has joint ventures in China ( Changan Ford), Taiwan (Ford Lio Ho), Thailand ( AutoAlliance Thailand), and Turkey (Ford Otosan). The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines; by 191 ...
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Demographics Of Australia
The population of Australia is estimated to be as of . The population estimate shown is automatically calculated daily at 00:00 UTC and is based on data obtained from the population clock on the date shown in the citation. Australia is the 55th most populous country in the world and the most populous Oceanian country. Its population is concentrated mainly in urban areas, particularly on the Eastern, South Eastern and Southern seaboards, and is expected to exceed 28 million by 2030. Australia's population has grown from an estimated population of between 300,000 and 1,000,000 Indigenous Australians at the time of British colonisation in 1788 due to numerous waves of immigration during the period since. Also due to immigration, the European component's share of the population rose sharply in the late 18th and 19th centuries, but is now declining as a percentage. Australia has an average population density of persons per square kilometre of total land area, which makes it one ...
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Car Longevity
Car longevity is of interest to many car owners and includes several things: maximum service life in either mileage or time (duration), relationship of components to this lifespan, identification of factors that might afford control in extending the lifespan. Barring an accidental end to the lifespan, a car would have a life constrained by the earliest part to fail. Some have argued that rust and other factors related to the body of a car are the prime limits to extended longevity. Background An automobile is a highly engineered collection of complex components, each of which has its own lifespan and longevity characteristics. The MTBF (mean time between failures) of some components is expected to be smaller than the life of the car, as the replacement of these is considered part of regular maintenance. Other components, which typically experience less wear, are expected to have a longer life; however, a large longevity may very well require replacement of several of these, raisin ...
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Department For Transport
The Department for Transport (DfT) is a department of His Majesty's Government responsible for the English transport network and a limited number of transport matters in Scotland, Wales and Northern Ireland that have not been devolved. The department is run by the Secretary of State for Transport, currently (since 25 October 2022) Mark Harper. The expenditure, administration and policy of the Department for Transport are scrutinised by the Transport Committee. History The Ministry of Transport was established by the Ministry of Transport Act 1919 which provided for the transfer to the new ministry of powers and duties of any government department in respect of railways, light railways, tramways, canals and inland waterways, roads, bridges and ferries, and vehicles and traffic thereon, harbours, docks and piers. In September 1919, all the powers of the Road Board, the Ministry of Health, and the Board of Trade in respect of transport, were transferred to the new minist ...
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Car Wash
A car wash, carwash, or auto wash is a facility used to clean the exterior, and in some cases the interior of motor vehicles. Car washes can be self-service, full-service (with attendants who wash the vehicle), or fully automated (possibly connected to a gas station). Car washes may also be events where people pay to have their cars washed by volunteers, often using less specialized equipment, as a method to raise money for some purpose. History 1946 The history of commercial car washes in the United States began in 1914. People used manpower to push or move the cars through stages of the process. The name is credited to Automobile Laundry in Detroit, Michigan, opened in 1914 by Frank McCormick and J.W. Hinkle . Manual car wash operations peaked at 32 drive-through facilities in the United States. The first semi-automatic car wash in the United States made its debut in 1946. A facility in Detroit, Michigan, used automatic pulley systems and manual brushing. 1955 Dan ...
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Vehicle Registration Plate
A vehicle registration plate, also known as a number plate (British English), license plate (American English), or licence plate (Canadian English), is a metal or plastic plate attached to a motor vehicle or trailer for official identification purposes. All countries require registration plates for road vehicles such as cars, trucks, and motorcycles. Whether they are required for other vehicles, such as bicycles, boats, or tractors, may vary by jurisdiction. The registration identifier is a numeric or alphanumeric ID that uniquely identifies the vehicle or vehicle owner within the issuing region's vehicle register. In some countries, the identifier is unique within the entire country, while in others it is unique within a state or province. Whether the identifier is associated with a vehicle or a person also varies by issuing agency. There are also electronic license plates. Legal requirements In Europe, most governments require a registration plate to be attached to bo ...
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Vehicle Inspection
Vehicle inspection is a procedure mandated by national or subnational governments in many countries, in which a vehicle is inspected to ensure that it conforms to regulations governing safety, emissions, or both. Inspection can be required at various times, e.g., periodically or on transfer of title to a vehicle. If required periodically, it is often termed periodic motor vehicle inspection; typical intervals are every two years and every year. In some jurisdictions, proof of inspection is required before a vehicle licence or license plate can be issued or renewed. In others, once a vehicle passes inspection, a decal is attached to the windshield, and police can enforce the inspection law by seeing whether the vehicle displays an up-to-date decal. In the case of a vehicle lacking a windshield (e.g., a trailer or motorcycle), the decal is typically attached to the vehicle body. With regard to safety inspection, there has been some controversy over whether it is a cost-effect ...
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Vehicle Excise Duty
Vehicle Excise Duty (VED; also known as "vehicle tax", "car tax", and more controversially as "road tax", and formerly as a "tax disc") is an annual tax that is levied as an excise duty and which must be paid for most types of powered vehicles which are to be used (or parked) on public roads in the United Kingdom. Registered vehicles that are not being used or parked on public roads and which have been taxed since 31 January 1998, must be covered by a Statutory Off Road Notification (SORN) to avoid VED. In 2016, VED generated approximately £6 billion for the Exchequer. A vehicle tax was first introduced in Britain in 1888. In 1920, an excise duty was introduced that was specifically applied to motor vehicles; initially it was hypothecated (ring-fenced or earmarked) for road construction and paid directly into a special Road Fund. After 1937, this reservation of vehicle revenue for roads was ended, and instead the revenue was paid into the Consolidated Fund – the general pot of m ...
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Toll Tunnel
A toll tunnel is a road tunnel where a monetary charge (or ''toll'') is required to pass through. List of toll tunnels United States Alaska Maryland Massachusetts Michigan / Ontario, Canada New Jersey / New York New York Texas Virginia Washington Tolls removed * Hampton Roads Bridge-Tunnel, between Hampton and Norfolk, Virginia South Africa * Huguenot Tunnel, South Africa United Kingdom * Dartford Crossing, Kent to Essex * Kingsway Tunnel, Wallasey to Liverpool * Queensway Tunnel, Birkenhead to Liverpool * Tyne Tunnel, North Shields to South Shields Ireland * Dublin Port Tunnel, Dublin * Limerick Tunnel, Limerick Australia * Burnley and Domain Tunnels, CityLink, Melbourne * Melba and Mullum-Mullum Tunnels, EastLink, Melbourne * Sydney Harbour Tunnel * Clem Jones Tunnel, Brisbane Queensland * Airport Link, Brisbane, Brisbane Queensland * Legacy Way, Brisbane Queensland Belgium * Liefkenshoek Tunnel, Antwerp Netherlands * Western Scheldt Tunnel, Ter ...
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Toll Bridge
A toll bridge is a bridge where a monetary charge (or ''toll'') is required to pass over. Generally the private or public owner, builder and maintainer of the bridge uses the toll to recoup their investment, in much the same way as a toll road. History The practice of collecting tolls on bridges harks back to the days of ferry crossings where people paid a fee to be ferried across stretches of water. As boats became impractical to carry large loads, ferry operators looked for new sources of revenue. Having built a bridge, they hoped to recoup their investment by charging tolls for people, animals, vehicles, and goods to cross it. The original London Bridge across the river Thames opened as a toll bridge, but an accumulation of funds by the charitable trust that operated the bridge ( Bridge House Estates) saw that the charges were dropped. Using interest on its capital assets, the trust now owns and runs all seven central London bridges at no cost to taxpayers or users. In ...
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