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Self-Driving Trucks

Decent Essays

Self-driving trucks have become a major scare for the trucking industry. Although uber’s Advanced Technology Group is promoting the positives of the new technology, truck drivers are realizing that their jobs are not secure. Uber believes that self-driving trucks will majorly increase supply, demand, and the amount of trucking jobs. The work that humans provide during drives is not matchable. Truck drivers move axles, check brakes, check are hoses, and communicate with outside sources. The more computerized jobs become, the less necessity there will be for manual labor.

Demand Relationship: This relates the prices to the quantity demanded. The article states, “If the self-driving trucks are used more efficiently, it would drive down the cost of freight, which would stimulate demand.” This is an exceptional example of demand relationship in the it displays how lower prices would raise demand. Uber thinks the demand for freight will create a greater need for truck drivers. …show more content…

According to Uber, self-driving trucks will largely increase the amount of freight that can be sold. As a result of the supply growth, more jobs will be created. It is hard to see a correlation between self-driving trucks and a job surge for truck drivers.
Market Equilibrium: This means that supply and demand are equal. It was predicted that the demand for more freight will rise and supply will grow in order to match the high demand. Many companies strive for market equilibrium, so it is obvious that the trucking industry would benefit greatly in goods and services.
Movement Along the Demand Curve: This occurs when there is a change in both price and the quantity demanded. The article demonstrated that a decrease in the cost of freight would raise the demand for it. The relationship between a lower price and higher demand is displayed accurately in this article with the desire for more efficient self-driving

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