How do means of transport and communication play an important role in the economic development of the country? Explain.
Answers
If the means of transport and communication are improved, quick and cheap they will increase the mobility of factors of production. The reward of all the factors will become equal.
2. Stable Prices :-
The developed system of transport and communication helps in stabilizing prices of the commodities through our the country.
3. Supply of Raw Material :-
Due to the quick and cheap transport system, raw material can be easily supplied to factories on lower cost. Even from out side the country it can reach in time.
4. Supply of Manufactured Goods :-
From the factories goods can be easily transported to the markets if transport is efficient.
Given: How do means of transport and communication play an important role in the economic development of the country? Explain.
Answer:
To the Transportation links together the factors of production are know as complex web of the relationships between to the producers and consumers. If outcome is commonly a more efficient division of production by an exploitation of geographical comparative advantages, is as well as the means to the develop economies of scale and scope.
Explanation :
• Important role means of the transport and communication plays are :
~ In Presently , the world has been converted into a large village with in the help of efficient and fast moving transport.
~ Transport has been able to the achieve this with the help of equally to developed communication system.
~ Therefore, a transport communication and trade are complementary to each other.
~ Railways, airways, waterways, newspapers, radio, television, cinema and internet have been contributing to its economic progress in many wages.
~ Transport and communication are to the basic of arteries of nation’s economy. They link to production with consumption agriculture and industry.
They help to be development of all the economic sectors are as - primary, secondary, tertiary and quarternary.
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