Transporting by Water

question 94

Multiple Choice

Transporting by water:

• A) Is the fastest transporting mode.
• B) Is the least expensive transporting mode for heavy freight.
• C) Is only important for international transportation.
• D) Is especially useful for lightweight goods.
• E) None of these alternatives is correct.

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Definitions:

Relative Prices

The price of one good or service compared to another, usually expressed as a ratio.

Price of Good

The amount of money required to purchase a specific product or service.

Affordable Consumption Options

Economically accessible choices available to consumers for goods and services within their budget constraints.

Indifference Curves

A graph representing different bundles of goods between which a consumer is indifferent, showing preferences and trade-offs.