Why is transport important for an industry?

Transportation plays a key role in economically important factors such as employment, utilization of raw and manufactured goods, investment of private and public capital and generation of tax revenues. … The transport sector is also a major consumer of raw materials and finished goods in most industrialized countries.

What is importance of transportation?

Transport is the means to move people and things from one place to another. It is essential for trade, exchange and travel. It is a supporting pillar for economic and social development.

What are the importance of transportation to economic development?

A transportation network makes markets more competitive. Economists often study resource allocation—that is, how specific goods and services are used. A transportation system improves the allocation process because it widens the number of opportunities for suppliers and buyers.

What are the 3 importance of transportation?

The importance of transportation is that it enables trade, commerce, and communication that establish civilization. It is good planning that manages traffic flows and enables the undisturbed and steady movement from one place to another.

What are the five importance of transportation?

What are the 5 important of transportation? Transport helps in the increase of production thereby raising the standard of living of the people. It is possible only through the means of transport that the ‘five M’s-men, material, money, machinery and management‘ can be assembled at the place of production.