The Economics of Time: Checkpoint 1

Quick checkpoint - five questions on time as a resource, valuing time, time use, time poverty and queues.

Question 1 of 5 What does the "full price" of a product include?

Only the money price The money price plus the value of time spent Only taxes Only the discount

Time costs are part of the real price.

Question 2 of 5 What is often the biggest benefit of transport projects in cost-benefit analysis?

Time savings Painting costs Ticket design Advertising

Time saved by users adds up to large values.

Question 3 of 5 What did India's 2019 Time Use Survey show?

Women spend far more time on unpaid domestic work Men do all housework No one does unpaid work Everyone works equally

Large gender gaps exist in unpaid work.

Question 4 of 5 What helps reduce time poverty in villages?

Piped water and LPG connections Longer queues More paperwork Fewer roads

Services free time from chores.

Question 5 of 5 Why do queues form?

Prices below market levels with limited supply Prices are too high Supply is unlimited People enjoy waiting

Waiting rations scarce goods.

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