Which Mode of Transportation Is the Most Cost Effective for Transporting

question 68

Multiple Choice

Which mode of transportation is the most cost effective for transporting raw materials?

• A) Pipeline
• B) Railroad
• C) Trucking
• D) Intermodal

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Definitions:

Technological Advances

Innovations and improvements in technology that enhance efficiency, productivity, and the quality of goods and services.

Trade-Off

The concept of giving up one benefit or advantage in order to gain another regarded as more favorable.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, reflecting the potential benefits one misses out on when choosing one option over another.

Bowed Outward

Describes a curve on a graph, typically a production possibility frontier, indicating increasing opportunity costs when shifting resources between two goods.