Economic Concentrations Discussion
Discussion 1
- Which field of natural science interests you the most and why?
- Is this field related to the issue that you chose to research for your project?
Discussion 2
Innovation and physical capital are 2 of the 4 factors of production.
Respond to the following in a minimum of 175 words:
- 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 your industry?
Discussion 3
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.
Consider the resources provided and other academically appropriate sources. The use of charts and tables to illustrate data is highly encouraged.
Cite at least 2 academically credible sources.
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