value of goods. Thus, transport makes production efficient and purposeful. b) It stimulates wants by increasing quantity and variety of consumer goods It helps in getting commodities, which cannot be had or produced in a region due to unsuitable natural conditions. Without adequate and effective transport, goods cannot be had either in the quantities or varieties required in a complex economy.
c) It develops and expands the market The primary function of transport is to enable the physical distribution of goods at global level. The distribution of goods must take place easily, economically and speedily. It provides the chance of expanding national land international market. d) It helps in price stability by distributing goods all over the country e) It aids to economic growth The movement of raw materials, fuel, labour and finished products and the mobility of capital and technical know-how, transport playing a remarkable role in the growth of all industries from agriculture to manufacturing.
f) It helps in specialization and mass production Specialization means the division of complex process of production into a number of separate processes so that each person or group specializes in each and every process. It has been extended to international level too. g) It encourages innovations in product production and designing It provides plenty of opportunities to the producers to produce their product in innovative and creative way, to catch up the wider market and reap more profit. commerce - - .
. PM . Documents Used in Transportation a) Way Bill The way bill is an acknowledgement of receipt of goods for transport by the carrier. The carrier, accepting goods for transport, issues waybills in the name of the consignors or consignees.
It serves as an evidence of the contract of transport. It is also a document of tittle of goods. The ownership of goods represented by a waybill can be transferred by endorsement and delivery of the waybill. If a waybill lost, the consignee will be allowed to clear the goods from the carrier after he executes an indemnity bond.
b) Railway Receipt Railway Receipt is an acknowledgement of