The automotive industry can be regarded as a fairly important player in terms of economic impact on the national economies in which it operates. Life is full of trade-offs. People must constantly decide how to spend the limited amounts of money and time they have available. The choices that people make when faced with these trade-offs reflect their knowledge, preferences and values. Prices are the direct, internal, variable, perceived costs involved in consuming a good, …showed first 75 words of 2341 total…

…showed last 75 words of 2341 total…Federal Reserve Monetary Policy. Retrieved from http://members.aol.com/rhrrr/fedrlres.htm USDOC. (2004, April). The Road Ahead for the U.S. Industry. Office of Automotive Affairs, Transportation and Machinery, International Trade Administration. U. S. Department of Commerce. Retrieved from http://www.ita.doc.gov/td/auto/2004road.pdf Victoria Transport Policy Institute. (2005, May 9). Transportation Elasticities, How Prices and Other Factors Affect Travel Behavior. TDM Encyclopedia. Retrieved from http://www.vtpi.org/tdm/tdm11.htm