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Select 1 of the economic concentrations (clusters) below: Seattle-Tacoma-Olympia, WA aerospace / defense industry Central Califor

 

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 concentration

Write 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.

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