Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
Bartleby Related Questions Icon

Related questions

Question

Discuss the use of new technology that allowed seafaring traders to expand the trade networks and add to overland routes.

Expert Solution
Check Mark
Introduction

International trade has become more intertwined than it has ever been in the last ten years. Every year, trillions of dollars worth of goods, services, and capital flow around the world. These flows are only going to continue to increase as modern trade becomes more interconnected.

It's been possible for governments and large international corporations to trade massive amounts for centuries, but even thirty years ago it would have been impractical for individuals and small businesses to do so easily, no matter where they were located. These kinds of trades are now a normal part of the modern economic reality that we currently enjoy thanks to technological advances in international shipping and logistics as well as the revolutionary impact of the internet.

Even so, creating such a dynamic and free-flowing trading environment has necessitated a significant investment in time, ambition, and creativity. We'll look at some of the most important trading routes in history to see how this works.

Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Text book image
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Text book image
Business in Action
Operations Management
ISBN:9780135198100
Author:BOVEE
Publisher:PEARSON CO
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Text book image
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.