Week 2 Discussion ECO 535.docx - Due Thursday Respond to the following in a minimum of 175 words Innovation and physical capital are 2 of the 4 factors

Week 2 Discussion ECO 535.docx - Due Thursday Respond to...

This preview shows page 1 out of 1 page.

Due Thursday Respond to the following in a minimum of 175 words: Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production: 1862 Pacific Railway Act What other examples of economic concentration can you share? What are the risks and advantages to economic concentration? How has economic concentration influenced your industry? The Pacific Railway Act was passed on July 1, 1862 and provided subsidies for construction land and loans to build a transcontinental railroad that spanned the US. Economic improvement was a major goal for the government in the mid-1800’s. This was one of the first that was controversial because it affected lands that were owned by settlers and Native Americans. Along with this effort was the placement of telegraph lines to improve technology and growth across the country. The movement of goods and people faster across the country was perceived as innovative and beneficial.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture