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Most important economic factor for economic development

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Reference no: EM132425120

Chapter 2 

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 was 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?

6. Adam Smith stated that specialization of labor was limited by the extent of the market and that transportation helps to expand the market. Explain the meaning and importance of this statement.

7. Economists often point to the impact of improved transportation on land values and related economic development. What is the nature and significance of the transportation impact?

8. While improved transportation systems provide economic benefits, there may be some associated costs. What are the major environmental costs associated with transportation and what are their potential negative impacts?

9. "Improved transportation systems can also have social and political significance." Why are these important considerations for evaluating existing and/or proposed additions to the transportation system?

10. The service characteristics of freight movements are considered by some shippers to be as important as or more important than the freight rate. Discuss the various service characteristics for freight demand. Do you agree with the statement that they may be as important as or even more important than the freight rate? Why or why not?

Attachment:- Chapter-3.rar

Attachment:- Chapter-4.rar

Reference no: EM132425120

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