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

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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.

 

Web Resources

2017 Total Per Capita Real Gross Domestic Product by Metropolitan Statistical Area
Aerospace Industry Report: Facts, Figures & Outlook for the Aviation and Aerospace Manufacturing Industry, 3rd ed.
Annual Energy Outlook 2019
The Antitrust Laws
Competition and Market Structures
The Faster Growth of Larger, Less Crowded Locations
Federal Reserve Economic Data (FRED)
Looking at the Urban-Rural Divide in Economic Growth
NAFTA’s Economic Impact
U.S. Cities are Home to 62.7 Percent of the U.S. Population, but Comprise Just 3.5 Percent of Land Area
What Drives Long-Run Economic Growth?

 

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