The Development of Shipping Containers Enabled Companies to Move Freight

question 78

Multiple Choice

The development of shipping containers enabled companies to move freight quickly between ships, trucks, and trains by loading a single large container with many different goods and then moving the container. Before the container, freight had to be loaded and unloaded one palette, barrel, or box at a time. What impact did the shipping container have on globalization? Why?

• A) an increase, because it allowed faster spread of communication
• B) an increase, because it decreased transportation costs
• C) a decrease, because it caused many dock workers to lose their job
• D) a decrease, because it caused the amount of human cooperation to fall

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Definitions:

Price Ceiling

A legal maximum price set by authorities for goods or services, intended to prevent prices from rising above a certain level to protect consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Government Implements

Actions taken by the government to put policies, regulations, or laws into effect.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product, intended to protect consumers from high prices.