The improvements in transportation affected the price of goods by?
making good cheaper?
but it says "it contributed to the success of many" what?
Improvements in transportation helped farmers get their crops to market.
Thank you Ms. Sue
You're welcome.
The improvements in transportation had a significant impact on the price of goods. Let me explain how:
1. Reduced transportation costs: With advancements in transportation infrastructure and technology, such as the introduction of railways, steamships, and later on, motor vehicles and airplanes, the cost of transporting goods became much more affordable. This led to a decrease in transportation expenses for businesses, which, in turn, reduced the overall cost of goods.
2. Increased speed and efficiency: Improved transportation systems allowed goods to be moved more quickly and efficiently. Faster transportation meant that goods could be produced, shipped, and delivered in a shorter amount of time. This efficiency led to reduced inventory holding costs for businesses, as they could now receive goods faster and more reliably. Consequently, this improvement in speed and efficiency helped to lower the price of goods.
3. Expanded market reach: Better transportation also expanded the geographic reach of businesses, allowing them to access previously untapped markets. By reaching a larger customer base, businesses could achieve economies of scale and increase their sales volumes. This increased demand and competition further drove down the price of goods.
4. Lowered production costs: Efficient transportation also improved the supply chain, allowing businesses to source materials and components from various locations at lower prices. This, in turn, reduced the overall production costs, enabling businesses to offer their goods at more competitive prices.
Overall, the improvements in transportation reduced transportation costs, increased speed and efficiency, expanded market reach, and lowered production costs. Collectively, these factors contributed to a decrease in the price of goods, benefiting businesses and consumers alike.