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Questions and Answers
What is the primary function of transportation?
To provide the market with access to the resultant products.
Transportation management solely focuses on the movement of goods.
False
Which of the following factors affects transportation costs?
The demand for transportation is commonly measured in _____ distance units.
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How is aggregate demand for transportation defined?
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What term is used to measure demand for freight transportation?
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What term describes the demand for passenger transportation?
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The demand for freight transportation is elastic.
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Study Notes
Transportation Management: An Overview
- Transportation is the creation of place utility and time utility.
- Place utility is provided when moving goods to locations where they have higher value than their origin.
- Time utility is provided when goods or services arrive when they are needed.
- Transportation is a service with characteristics similar to buying goods.
- Transportation service includes factors like speed, reliability, and frequency.
- Equipment used for transportation, like vehicles or containers, impacts comfort, safety, and shipping efficiency.
- Cost of transportation services includes primary carrier charges, pickup/delivery, packaging, damage fees, and special service charges.
Transportation Demand
- Transportation is a crucial element affecting individuals and society.
- Mass production relies on transportation for moving goods efficiently.
- Transportation enables specialization in production and efficient distribution of goods and services.
- Aggregate demand for transportation is the sum of individual demands for freight and passenger transportation.
- Transportation demand is measured in weight/passenger-distance units like ton-miles (freight) and passenger-miles (people).
- Freight transportation demand is generally inelastic, meaning price changes have minimal impact on demand.
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Description
Explore the key concepts of transportation management including place and time utility, characteristics of transportation services, and factors affecting transportation costs. Understand how transportation impacts society and supports mass production and specialization. This quiz provides insights into the importance of efficient transportation in today's economy.
