What are the two processes occuring when shipping costs get reduced and productivity increases?
a. Regulation and national standards
b. Privatization and deregulation
c. Privatization and regulation
d. Nationalization of existing means of production to reduce transportation cost
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Answer:
a
Explanation:
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Answer: correct answer is "C"
Explanation: When shipping costs get reduced and productivity increases, it is often due to the processes of privatization and deregulation. Privatization involves the transfer of ownership and control of shipping operations from the government to private entities. This can lead to increased efficiency, innovation, and cost reduction. Deregulation refers to the reduction or removal of government regulations and restrictions on the shipping industry, allowing for more competition, market-driven pricing, and operational flexibility. Both privatization and deregulation can contribute to lower shipping costs and increased productivity.
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