Congestion pricingCongestion pricing or congestion charges is a system of surcharging users of public goods that are subject to congestion through excess demand, such as through higher peak charges for use of bus services, electricity, metros, railways, telephones, and road pricing to reduce traffic congestion; airlines and shipping companies may be charged higher fees for slots at airports and through canals at busy times. Advocates claim this pricing strategy regulates demand, making it possible to manage congestion without increasing supply.
CityA city is a human settlement of a notable size. It can be defined as a permanent and densely settled place with administratively defined boundaries whose members work primarily on non-agricultural tasks. Cities generally have extensive systems for housing, transportation, sanitation, utilities, land use, production of goods, and communication. Their density facilitates interaction between people, government organizations, and businesses, sometimes benefiting different parties in the process, such as improving the efficiency of goods and service distribution.
DemandIn economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Innumerable factors and circumstances affect a consumer's willingness or to buy a good.
Traffic congestionTraffic congestion is a condition in transport that is characterized by slower speeds, longer trip times, and increased vehicular queueing. Traffic congestion on urban road networks has increased substantially since the 1950s. When traffic demand is great enough that the interaction between vehicles slows the traffic stream, this results in congestion. While congestion is a possibility for any mode of transportation, this article will focus on automobile congestion on public roads.
Network congestionNetwork congestion in data networking and queueing theory is the reduced quality of service that occurs when a network node or link is carrying more data than it can handle. Typical effects include queueing delay, packet loss or the blocking of new connections. A consequence of congestion is that an incremental increase in offered load leads either only to a small increase or even a decrease in network throughput.
Queuing delayIn telecommunication and computer engineering, the queuing delay or queueing delay is the time a job waits in a queue until it can be executed. It is a key component of network delay. In a switched network, queuing delay is the time between the completion of signaling by the call originator and the arrival of a ringing signal at the call receiver. Queuing delay may be caused by delays at the originating switch, intermediate switches, or the call receiver servicing switch.
End-to-end delayEnd-to-end delay or one-way delay (OWD) refers to the time taken for a packet to be transmitted across a network from source to destination. It is a common term in IP network monitoring, and differs from round-trip time (RTT) in that only path in the one direction from source to destination is measured. The ping utility measures the RTT, that is, the time to go and come back to a host. Half the RTT is often used as an approximation of OWD but this assumes that the forward and back paths are the same in terms of congestion, number of hops, or quality of service (QoS).
Network delayNetwork delay is a design and performance characteristic of a telecommunications network. It specifies the latency for a bit of data to travel across the network from one communication endpoint to another. It is typically measured in multiples or fractions of a second. Delay may differ slightly, depending on the location of the specific pair of communicating endpoints.
Law of demandIn microeconomics, the law of demand is a fundamental principle which states that there is an inverse relationship between price and quantity demanded. In other words, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded will decrease (↓); conversely, as the price of a good decreases (↓), quantity demanded will increase (↑)". Alfred Marshall worded this as: "When we say that a person's demand for anything increases, we mean that he will buy more of it than he would before at the same price, and that he will buy as much of it as before at a higher price".
Demand curveIn a demand schedule, a demand curve is a graph depicting the relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image.
