1. Country A and Country B, use ocean transport to ship bulk materials. Both countries can produce grain, but Country A exports to Country B which has a much larger population. Draw and explain an appropriate economic model(s) that illustrate(s) the impact on prices, production, consumption and trade if rising oil prices that raises cost of ocean transport.

1. Japan is an important market for Canadian beef, with exports to Japan totalling almost $215 million in 2018.Canada. Part of Canada's competitive advantage stems from the ability to produce beef at a lower cost compared with Japan. Assess the impact of a suspected E. coli outbreak in the Canadian beef supply chain that is reported in the Japanese media (but not the Canadian media) which frightens consumers in Japan. Illustrate your analysis with an appropriate diagram that shows the economic impact on the derived demand for transportation between Canada and Japan caused by the change in consumer demand for beef and the impact on prices and production in each Country. (Assume that Canadian consumers are unconcerned/unaware of the suspected outbreak).

1. The number of competitors in unregulated transportation markets differs widely between rail, air, marine, truckload and less-than-truckload (LTL) trucking. Draw and explain an appropriate economic model (or models) that illustrate(s) why in some modes of transport, like airlines and LTL trucking, firms are few in number and in others, like truckload trucking, companies are so many in number.

1. Suppose that growth in online retailing causes an increase in the demand for fast delivery of imported consumer goods to major urban centers and as a result, the demand for belly cargo space on passenger air flights from Asia to North America increases. Draw and explain an appropriate economic model or models that illustrate(s) the impact that increased cargo demand has on freight rates and passenger ticket prices.

1. "Information technologies are combining with advances in mechanical and other branches of engineering to create significant changes in transportation technology" (Monteira and Prentice, 2018). For each mode of transportation (Air, Ocean, Rail, Road) outline and distinguish changes in technology that are general (apply more broadly than transportation), vs. specific to transportation and which will impact demand and willingness to pay vs. impact supply and cost efficiency. In each case distinguish freight from passenger transportation.

Please mention which economic model best decribes each of the scenarios and give an explanation, no additional information is provided for the question, just to mention what happens to the economy when those events take place.