Business Studies

Advantages and Disadvantages of Water Transport

len Alfred Ajibola - Wed, 31st July, 2019 @ 7:06 PM

Topics in Business Studies

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Academic Questions in Business Studies

Please check out our Test Your Knowledge page to see all Questions and Answers

An accounting system focused primarily on a balanced debit and credit side is termed _____.

  • A. Ledger system

  • B. Journal system

  • C. Double entry system

  • D. Balance sheet system

  • E. Principle of accounting system

  • F. Balanced accounting system

With regards to money, which of the following statement is incorrect?

  • A. Money is crucial for the survival of every human being

  • B. Money is completely advantageous

  • C. Money is defined as anything that is generally accepted as a medium of exchange

  • D. Monopoly is said to exist when money and wealth exists in the hands of a few

  • E. Excess money in an economy can lead to inflation

  • F. When a person receives money that isn't commensurate with the job he or she had done, then that's underemployment

Which of the following statement is wrong with regards to business?

  • A. Business involves the exchange of something for another thing or money

  • B. Business is an economic activity

  • C. In business, profit goes beyond money

  • D. Businesses do not have social responsibilities to their customers

  • E. The exchange of services is an aspect of business

  • F. Businesses can be affected by government policies

Consumer _____ are the laws and methods put in place by various agencies so that consumers can enjoy maximum satisfaction on the goods they buy and services rendered to them.

  • A. Protection
  • B. Policy
  • C. Rights
  • D. Defence
  • E. Guide
  • F. Safety

Which of the following is not a characteristics of business?

  • A. The buyer and seller must always come into a contract agreement

  • B. Risk from unforseen circumstances is involved

  • C. They are subject to policies made by the government

  • D. All business transaction is aimed at making profit

  • E. It requires a discontinuous transaction between the buyer and the seller

  • F. Investments are required to begin a business

Which of the following is not a Right of Consumer Protection?

  • A. Right to Education
  • B. Right to Choose
  • C. Right to Safety
  • D. Right to the Good things of Life
  • E. Right to be Assured
  • F. Right to Compel

Which of the following is NOT a government agency of consumer protection?

  • A. Ministry of Sports
  • B. Ministry of Commerce
  • C. Consumer Protection Council
  • D. Ministry of Health
  • E. Ministry of Environment
  • F. National Drug Law Enforcement Agent

Define Consumer Protection.



Read more on its smart academic features here

Water Transportation:

Water is considered as one the modes of transportation. The other modes of transportation are land, air, pipeline and human porterage.

It is worthy of note to state that ships, speed boat, ferries and canoes are some of the means of transportation on water. However, water mode of transportation include the oceans, seas, rivers, lakes, canals and lagoons.

Please read more on the means and modes of transportation here.


Advantages of water transport

  1. Bulky goods and large volume of cargo can be easily and efficiently transported from one country to another.
    Please read on the advantages and disadvantages of road transport here.

  2. It is considered the safest mode of transport alongside railway transportation.

  3. Water bodies are the free gifts of nature; hence they don’t require any cost of construction and maintenance.
    Please read on maintenance here.

  4. Water transport is not affected by natural events like bad weather, flood and rains.
    Please read on the advantages and disadvantages of air transport here.

  5. Water transport is quite flexible in its services since it can be easily routed to other destinations if need be.

  6. The availability of water mode of transportation within a city can help solve traffic congestion in that city.
    You can read on the responsibilities, duties and obligations of a citizen here.

  7. Water transport provide a means for nations to defend their territory against their enemies.
    Please read on the disadvantages of foreign trade here.

  8. With regards to the distance it covers, water transportation is the cheapest.

  9. Water transport has a natural route network, thus traffic congestion are often absent.

  10. Compared to land and air modes of transportation, its pollution rate is the least among all.
    Please read more on environmental problems and its causes here.


Disadvantages of water transportation

  1. With regards to ship, water is a very slow means of transport. It’s so slow that goods can take weeks or even months before they reach their destination.
    Please read on the advantages and disadvantages of rail transport here.

  2. Ships are expensive to build and maintain.

  3. Pilfering is seen on a large scale at seaports.
    Please read on black market here.

  4. Water canals can be very expensive to construct and maintain.
    Please read on characteristics of government here.

  5. Huge ships require deep anchorage and modern equipment for loading and unloading; and this can be quite expensive to build and maintain.

  6. Water transportation does not get bulky goods to their destination. Such goods will still need to be transported over land.
    Please read on the disadvantages of foreign trade here.

  7. Tracking the progress of goods can be somewhat difficult. Some persons will may use this as a means of scamming their clients.
    Please read on values here.

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Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 10 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.

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Amazing facts in Business Studies

The world's 100 richest people earned enough money in 2012 to end global poverty four times over

NOTABLE POINTS IN Business Studies

Consumer protection refers to the ways or methods through which consumers enjoy maximum satisfaction from the goods they buy and services rendered to them.

The agencies of consumer protection assists in protecting the consumer rights. These agencies may also be referred to as the organs of consumer protection. Basically, we have three of them, they are:

  1. Government Agencies

  2. Independent Agencies

  3. Legislation

Please read on consumer protection here

One of the responsibilities of the government of every nation is to set up agencies or organizations that will protect the interest of the consumers and invariably, the people.

Below are some of the government agencies of consumer protection:

  • National Drug Law Enforcement Agency (NDLEA)
  • National Agency for Food, Drug Administration and Control (NAFDAC)
  • Consumer Protection Council (CPC)
  • Rent Tribunal
  • Ministry of Health
  • Ministry of Commerce
  • Ministry of Transportation
  • Ministry of Environment
  • National Wages and Salaries Commission

Please read on the government agencies of consumer protection here