GGR370H5 Lecture Notes - Lecture 3: Economic Sector, Internal Combustion Engine, Containerization
Document Summary
Improving the welfare of a society through appropriate social , political and economic conditions . The expected outcomes are quantitative and qualitative improvements in human capital (e-g . income and education levels) as well as physical capital such as infrastructures ( utilities, transport, telecommunications). Policies and strategies meant to improve development of a city tends to focus on the physical capital aspects. Recent years better balance between human and physical capital. Intensity used in infrastructure transport sector will always remain an important component in the economy , and a common tool used for development. Transport system is efficient reduce cost in economic network. Benefits that result in multiple positive outcomes. Deficient reduced or missed opportunities that lowers the quality of life increase cost. E. g it transport has low capacity unreliable. " to access the economic importance of a transportation system , we need to understand the types of impact it can have on society.
