Economic Concentration Evaluation
Select 1 of the economic concentrations (clusters) below: Seattle-Tacoma-Olympia, WA aerospace / defense industry Central California winemaking industry Hollywood movie industry Silicon Valley Technology hub Texas / Louisiana Gulf Coast crude oil and natural gas production and refining Pre-1994 vs Post-1994 US auto and light truck production and the reasons for the change in economic concentratioWrite a 700- to 1,050-word paper evaluating economists’ assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved. Complete the following in your paper: Analyze how the economic concentration in the area you chose was influenced by competition and pricing. Analyze how the economic concentration in the area you chose influenced the supply chain. Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose. Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.Web Resources 2017 Total Per Capita Real Gross Domestic Product by Metropolitan Statistical Area Aerospace Industry Report: Facts, Figures & Outlook for the Aviation and Aerospace Manufacturing Industry, 3rd ed. Annual Energy Outlook 2019 The Antitrust Laws Competition and Market Structures The Faster Growth of Larger, Less Crowded Location Federal Reserve Economic Data (FRED) Looking at the Urban-Rural Divide in Economic Growth NAFTA’s Economic Impact U.S. Cities are Home to 62.7 Percent of the U.S. Population, but Comprise Just 3.5 Percent of Land Area What Drives Long-Run Economic Growth?
