Assignment 1: economic brief / the transportation and warehousing | ECO 100 Principles of Economics | Strayer University

Industry Selection

Use this resource to select an industry and learn about the products and services it provides:

NAICS (North American Industry Classification System)

Select the number next to the industry to see its subsectors, e.g., select 52 to see Finance and Insurance.

Select that same number again to read about the industry as a whole or select a sub-category. For example, Mining is 21, and Oil and Gas Extraction, a sub-category, is 211.

Instructions

Review your previous chapter readings and use the resource above to develop an economic brief that is two to three (2-3) pages long in which you:

Select an industry and describe the goods and/or services this industry produces. Use the NAICS resource above to help you select an industry (and/or subsector) for your brief. 

Identify this industry’s market structure and at least two or more market characteristics that support this market structure. (Market structures are covered in Weeks 3 and 4.)

Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data. (Microeconomic relationships and market outcomes are covered in Weeks 2 through 4.)

How might government impact this industry’s market prices, output, and/or market structure? (Government intervention through price controls, industry regulations, and antitrust enforcement is covered in Weeks 2 and 4.)

This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.)

Your brief should include a cover page.

Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.

Your brief should include a minimum of one (1) reference/citation in the text.

Sector 48-49 — Transportation and Warehousing

The Sector as a Whole

The Transportation and Warehousing sector includes industries providing transportation of passengers and cargo, warehousing and storage for goods, scenic and sightseeing transportation, and support activities related to modes of transportation. Establishments in these industries use transportation equipment or transportation related facilities as a productive asset. The type of equipment depends on the mode of transportation. The modes of transportation are air, rail, water, road, and pipeline.

The Transportation and Warehousing sector distinguishes three basic types of activities: subsectors for each mode of transportation, a subsector for warehousing and storage, and a subsector for establishments providing support activities for transportation. In addition, there are subsectors for establishments that provide passenger transportation for scenic and sightseeing purposes, postal services, and courier services.

A separate subsector for support activities is established in the sector because, first, support activities for transportation are inherently multimodal, such as freight transportation arrangement, or have multimodal aspects. Secondly, there are production process similarities among the support activity industries.

One of the support activities identified in the Support Activities for Transportation subsector is the routine repair and maintenance of transportation equipment (e.g., aircraft at an airport, railroad rolling stock at a railroad terminal, or ships at a harbor or port facility). Such establishments do not perform complete overhauling or rebuilding of transportation equipment (i.e., periodic restoration of transportation equipment to original design specifications) or transportation equipment conversion (i.e., major modification to systems). An establishment that primarily performs factory (or shipyard) overhauls, rebuilding, or conversions of aircraft, railroad rolling stock, or ships is classified in Subsector 336, Transportation Equipment Manufacturing, according to the type of equipment.

Many of the establishments in this sector often operate on networks, with physical facilities, labor forces, and equipment spread over an extensive geographic area.

Warehousing establishments in this sector are distinguished from merchant wholesaling in that the warehouse establishments do not sell the goods.

Excluded from this sector are establishments primarily engaged in providing travel agent services that support transportation and other establishments, such as hotels, businesses, and government agencies. These establishments are classified in Sector 56, Administrative and Support and Waste Management and Remediation Services. Also, establishments primarily engaged in providing rental and leasing of transportation equipment without operator are classified in Subsector 532, Rental and Leasing Services.

note; the assignment is to be done on The transportation and warehousing industry.