Transportation is a pervasive and very important part of all developed economies

Question

                Transportation is a pervasive and very important part of all developed economies and is a key ingredient for underdeveloped countries to progress to economic development and independence.

•             The history of the United States is replete with evidence of the close correlation of advances in transportation technology with our advancing economic development from the Erie Canal to our modern highways and air systems.

•             Transportation systems are the lifelines of cities and the surrounding suburbs. Tons of products are moved into cities every day to promote the health and welfare of its citizens. Also, products which are produced in the cities are moved out for shipment elsewhere.

•             Transportation contributes to the value of goods by providing time and place utility. That is, effective and efficient transportation moves products to points where there is a demand for the product and at a time when it is needed.

• Geographic and labor specialization are important cornerstones of industrialized countries and transportation provides one of the necessary ingredients for this to occur.

•             The more efficient the transportation system, the greater the possibility of scale economies and increased market areas.

•             Improved transportation in an area will usually increase land values because of the improved accessibility to raw materials and markets.

•             The flow and patterns for commerce influence transportation infrastructure patterns of developing countries.

•             Transportation expenditures for freight and passengers are an important part of the gross domestic product in the United States.

•             While transportation provides many benefits, it can also contribute to environmental problems including pollution, poor air quality, acid rain, and global climate changes.

QUESTIONS

1. There is much discussion on the local, state, and federal levels about the need to repair and improve the Interstate Highway System. Provide a rationale for this need.

2. “Transportation is the most important economic factor for economic development.” Do you agree or disagree with this statement? Why or why not?

3. The opening of the Erie Canal and the building of the transcontinental railroads in the 19th century were described as significant milestones for the economic development in the United States. Explain their importance individually and collectively.

4. The highways and other transportation networks that serve major metropolitan areas are frequently described as the lifelines of the metropolitan area. Do you agree with this statement? Why or why not?

5. Compare and contrast time and place utility, and explain how they contribute to the value of products. What is the importance of time and place utility in our global economy?

Explanation / Answer

1. The discussion on repair and improve federal highways is very much evident from increasing transportation costs in US and detoriating condition of traffic in the country. US government need to understand that improving transporation would not only releave residents of the country however will also lay down base for a stable and strong transportation system.

2. I very strongly agree with the satemenyt for the fact as transportation for any nation is like lifeline that connects the nation and lays down a network for connecting it for supplying basic needs within the nation

3.

The Erie canal acted as a connection between New York and upper Great lakes enabling the entrepreneurs to have easy access to the target audience and resources. Erie Canal is a man made infrastructure build with utilization of prisoners under their social service regime. Erie Canal and the building of the transcontinental railroads in the 19th century were described as significant milestones for the economic development in the United States, the transcontinental railroad network added as an added booster to Erie Canal and acted in even more robust and stable network to manufacturers and suppliers to reach the targets market.

Transcontinental rail due to its wide reach had a larger impact than Erie canal however together they even more acted as milestone for the economic growth and development of the nation.

4. The highways and other transportation networks that serve major metropolitan areas are frequently described as the lifelines of the metropolitan area. I agree with the statement transportation networks lifelines act as a connection between entrepreneurs and the targeted buyers as these transportation networks not only connect buyers and sellers these also lay down paths for easy transportation to the citizens of the nation.

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