Test 1 (Intro to Couse, Gov Reg, Trucking) fully solved 2023

Test 1 (Intro to Couse, Gov Reg, Trucking) What qualities of transportation are desired by a shipper (considered by a shipper when choosing how to send a shipment)? - correct answer Accessibility, reliability, capability, cost One question will ask to identify them in general, another will require to pick the most important for a shipper sending a one-time shipment of very valuable cargo. - correct answer Safety (security) Why is transportation important to the society (what are its functions)? - correct answer It moves goods, it moves people, it is critical to national defense, it is the backbone of the modern economy What do economists call demand for transportation? - correct answer Derived What is landed cost? Is the share of transportation a big part of it? - correct answer The total cost to get a product somewhere. The transportation cost is usually a small percentage of the landed cost What is the unit of measurement of commercial passenger traffic? - correct answer Revenue passenger miles What are mode specific units of measuring transportation output? - correct answer Barrel, barge, carload, m^3 Rank the transportation modes on ton-miles of US domestic freight from highest to lowest share. - correct answer Rail, truck, pipeline, water, air What utilities (values) may transportation give to goods? - correct answer Quantity, place, time