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Farebox recovery ratio. The farebox recovery ratio (also called fare recovery ratio, fare recovery rate or other terms) of a passenger transportation system is the fraction of operating expenses which are met by the fares paid by passengers. It is computed by dividing the system's total fare revenue by its total operating expenses.
When the New York City Transit Authority was created in July 1953, the fare was raised to 15 cents (equivalent to $1.71 in 2023) and a token was issued. [89] In 1970 the fare was raised to 30 cents. [90] This token is 23mm in diameter with a Y cut out, and is known as the "Large Y Cutout".
In 2020, Luxembourg became the first country to provide free public transport across its entire territory. [1] Free public transport, often called fare-free public transit or zero-fare public transport, is public transport which is fully funded by means other than collecting fares from passengers. It may be funded by national, regional or local ...
The formula takes into account the main factors affecting the cost of operating the public transport system, including the MRT and public buses. Fare increases have caused public concern, but fares have been reduced in 2009, 2010, 2015, 2016 and 2017.
Generalised cost. In transport economics, the generalised cost is the sum of the monetary and non-monetary costs of a journey. [1] [2] It is sometimes used as a basis for judgements of transit accessibility and equitable distribution of public transit resources. [3]
Fare. A fare is the fee paid by a passenger for use of a public transport system: rail, bus, taxi, etc. In the case of air transport, the term airfare is often used. Fare structure is the system set up to determine how much is to be paid by various passengers using a transit vehicle at any given time. A linked trip is a trip from the origin to ...
e. Public transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typically managed on a schedule, operated on established routes, and that may charge a posted fee for each trip.
Level of service (transportation) Level of service (LOS) is a qualitative measure used to relate the quality of motor vehicle traffic service. LOS is used to analyze roadways and intersections by categorizing traffic flow and assigning quality levels of traffic based on performance measure like vehicle speed, density, congestion, etc.