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Analyze which factors of production were the most important

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Reference no: EM133474404

Homework: Economics Evaluation

1 of the economic concentrations (clusters) below:

1. Seattle-Tacoma-Olympia, WA aerospace / defense industry
2. Central California winemaking industry
3. Hollywood movie industry
4. Silicon Valley technology hub
5. Texas / Louisiana Gulf Coast crude oil and natural gas production and refining
6. 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 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:

Question 1. Analyze how the economic concentration in the area you chose was influenced by competition and pricing.

Question 2. Analyze how the economic concentration in the area you chose influenced the supply chain.

Question 3. Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose.

Question 4. Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.

Consider the resources provided and other academically appropriate sources. The use of charts and tables to illustrate data is highly encouraged.

Reference no: EM133474404

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