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INCREASING-COST INDUSTRY: A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. Efficient, low cost transportation systems improve accessibility.

Transportation is a key factor in accessibility. As real estate agents are prone to say, "The three most important factors in real estate are 'location, location, location.'" Accessibility determines how easy or difficult (read this as costly) it is to allocate good, services, and resources.

AmosWEB means Economics with a Touch of Whimsy!ĪCCESSIBILITY: The location of economic activity (especially in terms of land) relative to other activities.