Adam Smith stated the specialization of labor was limited by the extent of the market and that transportation helps to expand the market. Explain this statement.
Answer to relevant QuestionsWhat is the relationship between improved transportation and land values? Discuss the rationale for economic regulation of transportation. Unlike many industrialized nations, the United States has fostered private ownership of transportation companies. What is the rationale for private ownership? What is value-of-service pricing? Is this approach to pricing valid today? The motor carrier is probably the most visible segment of the transportation system in the United States, but in many ways the motor carrier is also the most significant element of the freight transport industry. What ...
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