Demand is how much a consumer is willing to buy at a specific price over a specific period of time. (correct me if i am wrong)
With that statement, it is understandable why Comfort would make the move of increasing fees of Taxis in singapore.
To be frank, i have been a active cab flagger for the past 3 years. The reason, i am lazy. and i have a theory which i always tell my friends. Time is precious, i cant be bothered to take bus and waste my life away on the bus. SOMEMORE i have to fight with others in the bus for a seat. Taking a cab lets me get home in half the time i taken to get home in a bus. Furthermore, i also believe that money can be re-earn, where time is never stopping.
Anyway, why the raise of cab fees? Demand is more than supply. Thats as far as what i can remembered from my econs haha. From the tv show that i watch, they mentioned that singapore taxis’ fares are cheaper than other countries’. I think this is not a very valid reason because it depends on the standard of living what. Why not compare us with countries with taxi fees is lower? Why must we compare with places with higher SOL?
ALthough i know that it is impossible to ask people not to take cab, but there is a solution for it!
WHY NOT ALL OF US SACRIFICE 2 WEEKS AND TAKE MRT or BUS only? But must do it together. When Supply exceeds demand, they might lower the cab fees.
Haha, however, if we do that, when demand for mrt and bus increase, they might increase their fees for it.
SO buy a car. Then they will increase COE and Road tax and ERP.
Hao ba, i think the best solution is to walk to work or run. No need money and save money and keep fit.
I am going to invent the teleporter! like star trekk like that! press button and i am there already! haha
Okie enough of nonsenses from me!
Posted by: Prof Lai (Pee. Hedge. Dee. Econs)
