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:

Market Dominate

The ability of a firm or a group of firms to control a substantial share of the market, influencing prices, and competition.

Sequential Games

Games in which players make moves one after another, with later players potentially having some knowledge of earlier actions.

Strategic Form

A representation of a game that summarizes the strategies and payoffs available to players.

Extensive Form

A way of representing a game in game theory, showing the sequence of moves and decisions, as well as the payoffs for each possible outcome in a tree format.