Regarding Alternative Transporting Modes

question 100

Multiple Choice

Regarding alternative transporting modes:

• A) trucks are good for speed, frequency, dependability, and number of locations served.
• B) pipelines are slower and less dependable than water transport, but also less expensive and able to serve more locations.
• C) airways are faster, cheaper, and more dependable than railways.
• D) waterways are slow, costly, and unable to handle a variety of shipments.

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Definitions:

Inverse Supply

A concept that illustrates how the quantity of goods supplied by producers decreases as the price decreases, typically represented by an upward sloping curve in economics.

Tax

A compulsory financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.

Supply Curve

A graphical representation of the relationship between the price of a good and the amount of it that producers are willing to supply.