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Write an evaluation of economists' assessments of the role the 4 factors of production played in determining how the Silicon Valley Technology hub has evolved.
Writean evaluation of economists' assessments of the role the 4 factors of production played in determining how the Silicon Valley Technology hub has evolved. Complete the following in your evaluation:
- 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. (Land, Labor, Capital & Entrepreneurship)(All industries use all 4 of the factors of production in different proportions, the question here is which is the most important for the cluster to be in Silicon Valley and which is the least - why did Silicon Valley form in Silicon Valley and which doesn't matter as much.)
- Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.
Considerthe resources provided and other academically appropriate sources.
Citeat least 2 academically credible sources. The use of charts and tables to illustrate data is highly encouraged.
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