Question

. Explain how developments in transport have affected trade?

Answer 1

Answer:

Transport improvements have had a much more significant impact on trade – and the organization of production more widely – than is captured in their measure of trade costs. ... They also explain the puzzle that trade has become more local. Sound transportation investments lower the costs of moving people and goods

Explanation:

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Answer 2

more efficient transportation becomes the larger the markets that can be serviced, and the larger the scale of production. This results in lower unit costs. Increased competition. When transport is efficient, the potential market for a given product (or service) increases, and so does competition

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