Economics class: Profit motive to return to British rail network as part of long-awaited shake-up
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Market structures, welfare economics
Click to read the article below and then answer the questions:
Profit motive to return to British rail network as part of long-awaited shake-up
Distinguish between nationalisation and privatisation
Following privatisation in 1993, most passenger rail services were run by privately owned train operating companies (TOCs) under multiyear franchises. Using a diagram, analyse the difficulties associated with introducing competition into the railway industry
Define consumer surplus
Evaluate whether a dynamic pricing model is fair to consumers
Gavin Clarke, Emmanuel College