Question

how do means of transport and communication play an important role in the economic development​

Answer 1

Answer:

1. Mobility of Factors of Production :-

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.