Economic Concentration Evaluation Paper

Description

PART ONE  

Respond to the following in a 200 to 250 words:

  • Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:
  • 1862 Pacific Railway Act
  • 1956 Federal Aid Highway Act
  • 1946 Federal Airport Act
  • What other examples of economic concentration can you share?
  • What are the risks and advantages to economic concentration?
  • How has economic concentration influenced the facilities management – real state industry?

PART TWO  

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 1000-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. (250 word count)
  • Analyze how the economic concentration in the area you chose influenced the supply chain. (250 word count)
  • Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose. (250 word count)
  • Predict changes you anticipate for the area of economic concentration you chose. Support your predictions. (250 word count) 

Please include a chart and a table for part two.

Explanation & Answer length: 1000 words.

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