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Life Lines Of National Economy

Question 3:

Answer the following questions in about 120 words.

(i) Why are the means of transportation and communication called the lifelines of a nation and its economy?

(ii) Write a note on the changing nature of the international trade in the last fifteen years.

Answer:

(i) The means of transportation and communication are called the lifelines of a nation and its economy because they are the preconditions for progress and development. Goods and services cannot move on their own from supply houses to demand locales. This necessitates the need for transportation. Thus, a country’s economy depends not only on the production and sale of goods and services, but on their transport as well. Globalisation has been possible on account of easier ...

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