HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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higher-priced goods.
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better quality goods.
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more hand-made products.
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lower-priced goods
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Detailed explanation-1: -Benefits of ocean transport Most of the low-cost bulk cargo, such as cereals, iron, coal etc., is moved by ocean freight. It is also preferred mode of transport for high volume and heavy cargo, such as minerals, metals etc., what are just not economically reasonable to move by air.
Detailed explanation-2: -Rail freight is the most cost effective solution for land transportation over distances of more than 500 miles. Less risk of accidents with moving goods by train.
Detailed explanation-3: -A transportation network makes markets more competitive. Economists often study resource allocation-that is, how specific goods and services are used. A transportation system improves the allocation process because it widens the number of opportunities for suppliers and buyers.
Detailed explanation-4: -Geography. Attributes related to distance are fundamental as distance is a function of energy and effort. Type of product. The characteristics of what being transported impacts costs. Economies of scale. Imbalances. Infrastructure. Mode. Regulations.