Question

How do developments in transportation affect economic activity?

1.They lead to decreasing availability of a variety of goods and services.

2.They increase labor costs and create a new category of employee.

3.They increase demand for transportation, raising prices generally.

4.They increase efficiency and decrease the prices of goods and services.

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Answer 1

4.

Step-by-step explanation:

Increased efficiency: Improvements in transportation technology and infrastructure can increase the efficiency of moving goods and people. This can lead to lower transportation costs, faster delivery times, and increased access to markets. In turn, this can stimulate economic activity by increasing the flow of goods, services, and people.Expansion of markets: Improvements in transportation can expand the geographic reach of markets, allowing businesses to access new customers and suppliers. For example, a new highway or railway line may open up previously inaccessible regions, making it possible for businesses to transport goods and people more easily and efficiently.Job creation: Developments in transportation can also create new jobs in industries such as shipping, logistics, and transportation services. This can have a multiplier effect on the economy by creating additional demand for goods and services in other sectors.