Taxi medallion

High school (ages 12+)
Transportation

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/taxi-medallion

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the official designation?Certificate of Public Necessity and Convenience (CPNC)
2. What is the regulatory mechanism?A government-issued transferable permit that limits the supply of taxicabs
3. Why do cities give out only a few taxi medallions?Cities limit the number of medallions so that there aren’t too many taxis. This keeps the industry fair, helps keep drivers earning enough, and keeps passengers safe.
4. How did taxi medallions become valuable?Because only a few medallions exist, people who own one can run a taxi business and earn money. Over time, the rare right to drive a taxi made the medallions worth a lot of money, even as much as some houses.

Certificate of Public Necessity and Convenience (CPNC): The formal legal document granting a taxicab the right to operate within a city's jurisdiction.
Supply-Side Economics: An economic theory focusing on the production and supply of goods and services as the primary drivers of economic growth.
Disruptive Technology: An innovation that significantly alters the way consumers, businesses, or industries operate, often displacing established market-leading firms or products.