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36 ⢠Contactless Parking Payment. Contactless parking payment systems allow customers to pay for the cost of parking using a debit or credit card (often featuring an embedded chip allowing for âtap to payâ), smart phones, or other devices and thus avoid taking a ticket when entering and returning the ticket to a cashier or automated payment station when exiting. ⢠Large-, Medium-, and Small-Hub Airports. The FAAâs National Plan of Integrated Airport Systems classifies airports by size, defining four categories of airports by their activity (i.e., the percentage of the U.S. annual passenger enplanements) with a large hub serving 1.0% or more of U.S. enplanements; a medium hub serving at least 0.25% but less than 1.0%, a small hub serving at least 0.05% but less than 0.25%, and a non-hub serving more than 10,000 enplane- ments but less than 0.05%. ⢠Price Elasticity of Demand. Elasticity of demand is a measure of the sensitivity of the change in customer demand (for parking) relative to the change in cost (of parking). When changes in parking costs cause little or no change in the parking demands, demand is considered to be inelastic. Glossary
