Analyze the chart above to answer the following 2 questions, 1. Describe what is exchanged in the Product Market of a Free Economy?
2. Describe what is exchanged in the Factor Market of a Free Economy?
3. Give an example of the "Invisible Hand" theory at work?
4. What would happen if a firm raised prices too high in a Free Market Economy?

the committees of correspondence were the american colonies’ means for maintaining communication lines in the years before the revolutionary war. in 1764, boston formed the earliest committee of correspondence to encourage opposition to britain’s stiffening of customs enforcement and prohibition of american paper money. the following year, new york formed a similar committee to keep the other colonies notified of its actions in resisting the stamp act. in 1773, the virginia house of burgesses proposed that each colonial legislature appoint a committee for intercolonial correspondence. the exchanges that followed built solidarity during the turbulent times and bring about the formation of the first continental congress in 1774.

roosevelt essentially took the opposite approach as hoover in taking on the great depression. herbert hoover thought that america and its economy could naturally recover from the depression in due course, so he adamantly restrained the federal government from intervening on behalf of the people affected. on the other hand, roosevelt dramatically increased employment by expanding the federal government and establishing agencies that would aid in relieving some of the country's worst problems.

declare war, appoint military officers, sign treaties, make alliances