__________________ Transportation Refers to the Seamless Transfer of Goods from One

question 30

Multiple Choice

__________________ transportation refers to the seamless transfer of goods from one mode of transportation (such as an aircraft) to another (such as a ship) and
Vice versa without the hassle of unpacking and repackaging of goods to suit the
Dimensions of the mode of transportation being used.

• A) Bi-polar
• B) Bi-modal
• C) Intercontinental
• D) Dual-basic
• E) Intermodal

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Definitions:

Production Possibilities

Different combinations of goods and services that an economy can produce using all of its resources efficiently.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, representing the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Increasing Costs

This refers to a situation where the costs of production increase as the output level increases, often seen in industries with limited resources.

Production Efficiencies

Occurs when a firm or economy can no longer produce additional amounts of a good without lowering the production level of another product.