Innovation and physical capital are 2 of the 4 factors of production. Respond to the following in a minimum of 175 words:
• 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
• 1956 Federal Aid Highway Act
• 1946 Federal Airport 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?
Sample Solution