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The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. [1] The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. It also required that railroads publicize shipping rates and ...
Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. [1] [2] [3] Microeconomics focuses on the study of individual markets, sectors, or industries as ...
Freight rate. A freight rate (historically and in ship chartering simply freight[ 1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
Containerization, also referred as container stuffing or container loading, is the process of unitization of cargoes in exports. Containerization is the predominant form of unitization of export cargoes, as opposed to other systems such as the barge system or palletization. [ 2] The containers have standardized dimensions.
Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where ...
Irena McLean. . ( m. 1993–2001) . Children. 3 (with first wife) Malcom Purcell McLean (November 14, 1913 – May 25, 2001) [ 1] was an American businessman who invented the modern intermodal shipping container, which revolutionized transport and international trade in the second half of the twentieth century.
t. e. Cost of goods sold ( COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred ...
Outsourcing. Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally, [ 1][ 2] or in-house. [ 3] Outsourcing sometimes involves transferring employees and assets from one firm to another.