Economic terms worksheet

Natural[ edit ] Natural resources are derived from the environment. Many natural resources are essential for human survival, while others are used for satisfying human desire.

Economic terms worksheet

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Current models tend to be biased in various ways that exaggerate the benefits of roadway capacity expansion and undervalue the impacts and benefits of TDM strategies that encourage use of alternative modes and reduce motor vehicle travel.

Description Models are simplified descriptions of a system used to predict and evaluate the results of system changes. Various transport models are used to predict impacts and evaluate options for Transport Planning and Evaluation. The assumptions and analysis methods used in these models can affect planning decisions.

Commonly used models tend to undervalue alternative modes and TDM solutions in various ways. TDM planning requires models that can predict the impacts of various changes, such as improvements in alternative modes, pricing reforms and marketing strategies.


Several types of models are used for transport planning: Travel Demand Models Travel demand models also called traffic models are designed to Economic terms worksheet Transport Demands the amount of travel people would choose under specific conditions of price, transport services and land use policies and use this information to predict roadway traffic volumes and impacts such as congestion and pollution emissions.

Most Economic terms worksheet four-step models, meaning that they follow these steps: Trips are distributed between pairs of zones, based on the distance between those zones.

Trips are allocated among the available travel modes usually auto and transit. Trips are assigned to specific facilities included in the highway and transit transportation networks. These models use travel survey and census data to determine Transport Demandsestablish baseline conditions and identify trends.

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Trips are often predicted separately by purpose i. Because they are designed primarily to identify congestion problems they mainly measure peak-period motor vehicle trips on major roadways.

The generally report roadway Level-of-Service LOSwhich is a letter grade from A best to F worst that indicates vehicle traffic speed and delay. These models often incorporate several types of bias favoring automobile transport over other modes and undervaluing TDM strategies TRB The travel surveys they are based on tend to ignore or undercount Nonmotorized travel and so undervalue nonmotorized transportation improvements for achieving transportation planning objectives Stopher and Greaves Most do not accurately account for the tendency of traffic to maintain equilibrium congestion causes travelers to shift time, route, mode and destination and the effects of generated traffic that results from roadway capacity expansion, and so tend to exaggerate future congestion problems and the benefits that result if roadway capacity is expanded.

They are not sensitive to the impacts many types of TDM strategies have on trip generation and traffic problems, and so undervalue TDM benefits. Trip and Parking Generation Models Publications such as the Institute of Transportation Engineers ITE Trip Generation and Parking Generation reports summarizes information from numerous site surveys that measure the number of vehicle trips and vehicles parked in various land use types.

This information is used to predict the impacts that future developments will have on local traffic volumes and the number of parking spaces required. The resulting values influence planning decisions in various ways, including transportation impact fees and minimum parking requirements for new development.

These reports have been criticized on a number of grounds. Most of their input surveys were performed in automobile-oriented suburban locations were all parking is on-site, since those tend to be the easiest sites to measure it is more difficult to measure the trip and parking generation of urban sites since motorists often park off-siteand because they seldom indicate geographic, demographic and management factors that affect trip and parking generation - for example, they seldom indicate the types and incomes of people who live or work at a site, transit service proximity and quality, local walkability, whether parking is free or priced, whether the site has transportation or parking management programs.

As a result, the trip and parking generation values tend to be much higher than would occur in more accessible, multi-modal locations, or for sites that implement demand management programs. These models provide little guidance for evaluating the impacts and benefits of smart growth, transportation and parking management strategies.

A number of recent studies have examined ways to better predict how smart growth locations and demand management programs can affect trip and parking generation Lee, et al.This lesson will explore the eras of pre-industrialism, industrialism, and post-industrialism.

In doing so, it will highlight subsistence-level living, cottage industries, and the service industry.

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Economic terms worksheet

Biz Terms Vocabulary Family Activity Sheet. page 2 of 10 WoRKsHEET FoR sTUdENTs Biz Terms Consumer Price Index Cost/benefit analysis Depression Economics Economic indicators Gross Domestic Product Incentives economic behavior of individuals, firms, and markets.

Economic terms worksheet
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