In economics, induced demand – related to latent demand and generated demand – is the phenomenon whereby an increase in supply results in a decline in price and an increase in consumption. In other words, as a good or service becomes more readily available and mass produced, its price goes down and consumers are more likely to buy it, meaning that the quantity demanded subsequently increases. This is consistent with the economic model of supply and demand.
A pedestrian plaza on Broadway at Madison Square; the Empire State Building is in the background; Broadway is reduced at this spot to a single lane (on the right)
A toll road, also known as a turnpike or tollway, is a public or private road for which a fee is assessed for passage. It is a form of road pricing typically implemented to help recoup the costs of road construction and maintenance.
Collecting tolls on SR 417 near Orlando, Florida, United States. This shows the two common methods of collection of tolls: tollbooth (on right) and electronic toll collection (on left).
A table of tolls in pre-decimal currency for the College Road, Dulwich, London SE21 tollgate
Toll bar in Romania, 1877
Entrance fees collection in a local community road checkpoint near Bagan (Myanmar)