How Transportation Removes The Hindrance Of Place?

What are the 6 modes of transportation?

Therefore; an essential part of transportation management lies in building an efficient supply chain from the six main modes of transportation: road, maritime, air, rail, intermodal, and pipeline.

Understanding the strengths and weaknesses of each mode is paramount to building an effective supply chain..

Which hindrance of trade does insurance remove and how?

In foreign trade, payments are arranged by commercial banks on behalf of importers and exporters. (c) Insurance The risk of loss or damage to the factory building, machinery, furniture, goods held in stock or goods in course of transport due to theft, fire, accidents, etc is removed by insurance of goods.

Which auxiliary to trade removes the hindrance of time?

Answer: For example, transport removes the hindrances of place by moving goods from the places of production to the markets for sale, storage and warehousing activities removes the hindrance of time by facilitating holding of stocks of goods to be sold as and when required.

Which auxiliary to trade removes the hindrance of risk?

Advertising makes it possible for producers and traders to inform consumers about the goods and services available in the market. Hence, commerce is said to consist of activities of removing the hindrances of persons, place, time, risk, finance and information in the process of exchange of goods and services.

Which hindrance is removed by transportation?

Following are the hindrances in commerce: Lack of Personal Contact: This hindrance is removed by traders and middlemen. Distance or Place: This hindrance is removed by transportation. Finance: Thishindrance is removed by banking.

Which is the fastest means of transport?

Air transportAir transport is the fastest method of transport, Commercial jets reach speeds of up to 955 kilometres per hour (593 mph) and a considerably higher ground speed if there is a jet stream tailwind, while piston-powered general aviation aircraft may reach up to 555 kilometres per hour (345 mph) or more.

What are the 5 types of transportation?

Five Major Modes of TransportationRoad transport.Railway transport.Water transport.Air transport.Pipeline transport.

Which auxiliary to trade removes the hindrance of knowledge?

The tertiary industry that helps in removing the hindrance of knowledge is ‘advertising’. It does so by providing various useful information to the consumers about the product. How satisfied are you with the answer?

How is the hindrance of place removed?

(i) Hindrance of person refers to the problem of contact between producers and consumers commerce removes. This hindrance is removed by trade. (ii) Hindrance of place refers to the problem of distribution of goods at distant places without loss. Commerce removes this hindrance by transportation.

Which is the slowest mode of transport?

Water Transport Water transportation is the least expensive and slowest mode of freight transport. It is generally used to transport heavy products over long distances when speed is not an issue.

What is hindrance of trade?

1. Hindrances of exchange: Hindrance of exchange is overcome by trade. Trade is an integral part of commerce. It simply refers to sale, transfer or exchange of goods and services. … Hindrance of risk: hindrance of risk of damage/loss of goods in transit in warehouse can be solved by insurance.

What is hindrance of knowledge?

Hindrance of knowledgeThe consumers may not buy the best products available in themarket because they may not possess the knowledge of the marketconditions. Hence it is known as hindrance of knowledge. The absenceof information about products is a great hindrance in the way of buyingthem.

Which of the following Cannot be classified as an auxiliary to trade?

Answer. mining cannot be classified as an auxiliary to trade.

Which business activity removes all the hindrances in the process of exchange?

CommerceCommerce removes all hindrances in the process of trade. Commerce includes trade and activities incidental to trade, to break the barriers between producers and consumers. It helps to remove the hindrance of place, person, time, risk, exchange, etc. by means of trade, transport, warehousing, insurance, banks, etc.

What removes time hindrance?

(d) Warehousing Storage and warehousing activities remove the hindrance of time by facilitating holding of stocks of goods to be sold as and when required. Warehousing helps business firms to overcome the problem of storage to prevent loss or damage and facilitates the availability of goods when needed.

What are auxiliaries to trade?

Auxiliaries to trade are those activities which facilities business. Transport, banking, insurance, warehousing, and advertising is regarded as auxiliaries to trade.

How does transportation help in removing hindrance of place?

TransportTransport removes place hindrance. Goods may be produced atplaces where they are in less demand. These goods are to be taken tothe place of consumption with the help of transport facilities we cancreate ‘place utility’ in goods. … A producer can produce goods on any scale,according to the demand.

What are the types of hindrance?

The five hindrances individuallySensory desire (kamacchanda) The hindrance of sensory desire (kamacchanda) is latching onto thoughts or feelings based on the pleasures of the five senses. … Ill will (vyapada) … Sloth-torpor (thina-middha) … Restlessness-worry (uddhacca-kukkucca) … Doubt (vicikicchā)