What is the easy way to imagine an economy?

What was the most advanced common means of transportation at the turn of the century?

Railroads were privately owned and not publicly owned (government owned).

Which of the following is an example of the government getting involved in the economy?

Persuading the government to pass laws to help your group?

Why did the farmers form the Grange and lobby the government to pass laws that protected farmers?

Why did the government give free land to private businesses, so that the private businesses could profit from building railroads?

The Wealth of Nations, an influential economics book, was written by -

Adam Smith argued for a “hands off” approach by the government in regards to the economy.

In a laissez faire economy, the government determines the prices of goods.

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