Rail Transportation Is Generally Less Expensive Than Air and Truck

question 25

True/False

Rail transportation is generally less expensive than air and truck modes. Rail cargo is usually shipped from terminal to terminal; therefore, flexibility is not an attribute.

---

Definitions:

Production Possibilities

A curve representing all possible combinations of two goods that can be produced within a given economy when resources are fully and efficiently utilized.

Specializes

Specialization involves focusing on a narrow area of knowledge or skill, often to improve efficiency or performance.

Terms Of Trade

The ratio at which a country can trade its exports for imports from other countries; reflects the relative prices of a country's export and import products.

Production Possibilities

The different combinations of goods and services that an economy can produce efficiently with given resources and technology.