Question Description
Help me study for my Economics class. I’m stuck and don’t understand.
Desmond Early
Respond in 150 wordsundefined
- 1862 Pacific Railway Act.
The Pacific Railway Act, which became law on July 1, 1862, offered government incentives to develop the nation's first transcontinental rail line. Authorizing the Union Pacific and the Central Pacific railroad companies to construct the lines, the legislation provided government bonds to help fund the work, in addition to vast land grants. Employing thousands of immigrant workers and facing enormous challenges, including harsh weather, massive mountain ranges, and conflicts with Native Americans, each company made its way towards a meeting point that would complete the line. On May 10, 1869, workers drove in the ceremonial "Golden Spike" at Promontory, Utah, joining the two lines.
- What other examples of economic concentration can you share?
Another example of economic concentration is that Ecolab, a water-based solutions company, has expanded its portfolio by investing three-hundred million in farm to fork solutions addressing food-born-illnesses to solidify its vision of sustainability.
- What are the risks and advantages to economic concentration?
Economic concentration in this context is used as the indicator of market power. The advantages of economic concentration in a large organization engaging in monopolistic practices benefit the organization because they have more capital and resources. This leaves the risks for smaller businesses to be out-resourced, rendering them unable to compete in the market effectively.
- How has economic concentration influenced your industry?
Large corporations in our industry have aligned themselves with other large social movements and causes to solidify brand recognition. The visibility has allowed our organization to control the majority of the market share.
Landmark Legislation: The Pacific Railway Act of 1862. (2017, January 12). Retrieved January 22, 2021, from https://www.senate.gov/artandhistory/history/commo...
Brandy Ferrate
Respond in 150 wordsundefinedNEW
- 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:
- 1956 Federal Aid Highway Act was approved both by the Senate and the House of Representatives. This Act accomplished to turn a "jumble of unconnected local roads into a national transportation network that stretch from coast to coast."
- This Law increased both innovation and physical capital by by providing over 90 percent for a new highway. This brought about a reliable mobility for military needs and national defense in general.
- What other examples of economic concentration can you share?I believe that VF Corporation is an example of economic concentration. the smaller subdivisions are other popular brands such as The North Face, Timberland, and Wrangler and Lee jeans.
- What are the risks and advantages of economic concentration? Risk of economic concentration: poor designed tax reforms.
- An advantage of economic concentration is low costs to consumers when it comes to grocery items.
- How has economic concentration influenced your industry? Apple products have really influenced the industry I was in, which was retail. We sold phones, iPods, apple tune credit cards, headphones, and all accessories. All those smaller items made a big statement on the bigger picture. Apple product diversified and made all of us a lot of money for those that were in the retail business and sold these products.
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