ECOCB/535: The Digital Economy
Competency 1 – Reflection
This reflection activity is comprised of two sections collectively totaling a minimum of 500 words. Complete your reflection by responding to all prompts.
The Role of Economics in Shaping Public Policy
Analyze how economics plays a vital role in shaping public discussion in the following policy areas:
Import taxation (tariffs)
Provide 1 example of each of the discussions you analyzed above and how that example plays out in your life and career.
Factors of Production
Innovation and physical capital are two of the four factors of production. Analyze specific ways that 1 of the following laws increased the productivity of innovation and physical capital:
1862 Pacific Railway Act
1956 Federal-Aid Highway Act
1946 Federal Airport Act
Now that you have considered how law can increase the productivity of innovation and physical capital, address the following:
Describe 3 other examples of economic concentration.
What are the risks and advantages of economic concentration?
How has economic concentration influenced your industry?
Submit your reflection.
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