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Meaning and Importance of Transport to Business

Answer Text:
TRANSPORT
MEANING OF TRANSPORT
Transport is the physical movement of people and goods from one place to another
Importance of Transport to Business:
a) Bridging the gap between producers and consumers/ linking consumers to producers-Transport links consumers
to producers which enable the consumers to obtain the goods they need.
b) Employment creation-Transport helps in solving unemployment problem by creating job opportunities
c) Promotes specialization-Transport enables people to specialize in jobs they are best at.
d) Making goods and services more useful-Through transport goods
are moved from a place where they are least required to a place where they are most required thereby making them more useful.
e) Improving people‟s standard of living-It enables consumers to get a variety of goods and services thereby improving the standards of living.
f) Availing a wide market for products-It
helps producers to widen the markets for their products by enabling them access to areas they would otherwise not have accessed
g) Increased production/ facilitates mass production-Due to the wider market created through transport, producers are able to increase the volume of goods produced.
h)Avoiding wastage-Transport makes it possible for surplus goods to be disposed of by taking them to areas where they are required.