Which of the Following Modes of Transportation Provides the Most

question 91

Multiple Choice

Which of the following modes of transportation provides the most efficient way for moving bulky commodities over long distances?

• A) Railroads
• B) Motor carriers
• C) Water carriers
• D) Pipelines

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Definitions:

Perfectly Competitive

A market structure characterized by a complete absence of rivalry among the sellers and it implies an industry or market in which many sellers offer identical products.

Benchmark Pricing

A method of pricing where a standard or reference price is used to set or compare the price of goods and services.

Similar Products

Goods that serve comparable purposes or needs and can be considered substitutes for each other by consumers.

Short Run

A period in economics during which at least one factor of production is fixed, limiting the ability of the economy or firm to adjust.