Discuss some specific ways that 1 of the laws increased

Reference no: EM133727427

Question: Discuss some specific ways that 1 of the 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?
Respond to these two classmates below or your faculty member. State why you agree or disagree. State examples as well.Be constructive and professional. 100 words for each of these two statements in response.
1)Good evening,
The 1946 Federal Airport Act was able to increase the productivity through improving the transportation infrastructure for air travel throughout the United States. The act was authorized with federal funding for airport development and it allowed for the construction of new airports and the upgrading of existing ones. With these development it made air travel more efficient and reliable, which has increased productivity by facilitating the movement of people and goods all over the country.

Other examples of economic concentration is when firms that are within the same industry join together, they can take advantage of the existing infrastructure and supply networks. This can cause skilled workers to shift close to such work, allowing easy access to labor that is readily available.

Some of the risk is that it can reduce competition limit choices for the consumer and it can cause an increase in income inequality It can make individuals dependent on those with economic power for their ability to obtain gainful employment. The advantages is that large firms can produce goods more efficiently, leading to cost savings. Economic concentration can cause for prices to decrease and increase innovation.

Reference no: EM133727427

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