ExternalityIn economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example.
BusA bus (contracted from omnibus, with variants multibus, motorbus, autobus, etc.) is a road vehicle that carries significantly more passengers than an average car or van. It is most commonly used in public transport, but is also in use for charter purposes, or through private ownership. Although the average bus carries between 30 and 100 passengers, some buses have a capacity of up to 300 passengers. The most common type is the single-deck rigid bus, with double-decker and articulated buses carrying larger loads, and midibuses and minibuses carrying smaller loads.
CostIn production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer.
Marginal costIn economics, the marginal cost is the change in the total cost that arises when the quantity produced is incremented, the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output.
Articulated busAn articulated bus, also referred to as a slinky bus, banana bus, bendy bus, artic bus, tandem bus, double bus, vestibule bus, wiggle wagon, stretch bus, sausage bus or an accordion bus, (either a motor bus or trolleybus) is an articulated vehicle used in public transportation. It is usually a single-decker, and comprises two or more rigid sections linked by a pivoting joint (articulation) enclosed by protective bellows inside and outside and a cover plate on the floor.
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