Toll roads are the kinds of roads which have occasional stops whereby individuals have to pay some money to use the streets. These roads can sometimes be referred to as turnpike, tollway, or express toll route. The fee which is imposed on traveling on a toll road is what is related to a toll. This paper discusses the purpose of imposing toll roads despite the presence of free roads, its advantages, and disadvantages to the drivers, the economic implications of the toll roads, and the reason why an individual should prefer paying a toll than using a free road.
Toll roads are essential since they ensure a free flow of traffic since they use technologies that serve to eliminate delays. Drivers can either pay by having monthly bills delivered to them or by the use of an electronic transponder which is connected to a prepaid account. Toll roads also reduce pollution from the greenhouse gas and other emissions which results from sitting and wasting fuel in traffic. A toll road also serves the purpose of allowing vehicles to move at speeds which are fuel efficient (Mankiw, 2014). Economically, tolling serves as an instrument suited in a unique way to the collection of efficient prices in the use of roads.
The major disadvantage of toll roads to the drivers is only the toll fees charged to access the use of the service. On the other hand, due to the premium nature of these roads, the time consumed in their usage will be lowered since congestion is reduced. The time saved while driving on these roads can, in turn, be leveraged in other economic activities that can generate more income which can cover the paid toll charges.
In summary, the opportunity costs and the toll charges are likely to be lower for the toll roads as compared to the free roads. Thus, individuals would instead prefer paying a toll than using an open highway.
Mankiw, N. G. (2014). Principles of Economics (8th ed). Stamford, CT: Cengage. ISBN: 9781337552134- Loose Leaf
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