Induced demand, or latent demand, is the phenomenon that after supply increases, more of a good is consumed. This is entirely consistent with the economic theory of supply and demand; however, this idea has become important in the debate over the expansion of transportation systems, and is often used as an argument against widening roads, such as major commuter roads. It is considered by some to be a contributing factor to urban sprawl.
Read more about Induced Demand: Effect in Transportation Systems
Famous quotes containing the words induced and/or demand:
“The classicist, and the naturalist who has much in common with him, refuse to see in the highest works of art anything but the exercise of judgement, sensibility, and skill. The romanticist cannot be satisfied with such a normal standard; for him art is essentially irrational—an experience beyond normality, sometimes destructive of normality, and at the very least evocative of that state of wonder which is the state of mind induced by the immediately inexplicable.”
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