Economics class: Profit motive to return to British rail network as part of long-awaited shake-up

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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