Homework: Economic Concentration Evaluation
Select 1 of the economic concentrations (clusters) below:
o Seattle-Tacoma-Olympia, WA aerospace / defense industry
o Central California winemaking industry
o Hollywood movie industry
o Silicon Valley Technology hub
o Texas / Louisiana Gulf Coast crude oil and natural gas production and refining
o Pre-1994 vs Post-1994 US auto and light truck production and the reasons for the change in economic concentration
Write a 700 words 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:
o Analyze how the economic concentration in the area you chose was influenced by competition and pricing.
o Analyze how the economic concentration in the area you chose influenced the supply chain.
o Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose.
o Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.
o Consider the resources provided and other academically appropriate sources. The use of charts and tables to illustrate data is highly encouraged.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.