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28 July, 11:50

Transportation is the most important economic factor for economic development. Do you agree or disagree with this statement? Why or Why not? Start a New Thread

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  1. 28 July, 12:54
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    Totally agree

    Explanation:

    At the microeconomic level (the importance of transportation for specific parts of the economy) transportation is linked to the producer, consumer, and production costs. The importance of specific transport activities and infrastructure can thus be assessed for each sector of the economy. Usually, higher income levels are associated with a greater share of transportation in consumption expenses. Transportation accounts on average between 10% and 15% of household expenditures, while it accounts for around 4% of the costs of each unit of output in manufacturing, but this figure varies greatly according to sub-sectors.
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