ABSTRACT
The discussion in Chapter 4 turned to the elasticity of passenger transport demand with respect to fuel prices. Graham and Glaister further carried out investigations into the demand for transport with regard to generalised cost and time taken. In all studies conducted, demand for passenger transport based on private modes of travel, such as the car is relatively inelastic. Many commentators have stated that this is because transport is a derived demand; it is never an end in itself, but always a means to an end: be this work, the acquisition of food, access to education, etc.
