Description
Review the Wk 2 Resources.
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 975 -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.
APA format
Explanation & Answer
HiHere is the file containing the final answer. Feel free to rate my work, share my profile, and do invite me on future assignments. Take care, Bye
1
Economists’ Assessments (Hollywood Movie Industry)
Author’s Name
Department, Institution Affiliation
Course Number: Course Name
Professor’s Name
July 27, 2020
2
Economists’ Assessments (Hollywood Movie Industry)
Effects of Competition and Pricing on Hollywood Movie industry
Hollywood's inclination for economic expansion began in 1910 and has since expanded
over the decades. At the same time, cinema emerged with other innovations in western countries
as chemicals, automobiles, etc. and it became all invasive since then. With time, billions of
tickets were sold across the countries, and those who did not watch became the few. The film
industry began from the trick and gadget to put a coin in the booth to watch the film, and later
new filmmakers emerged who came with new stunts and upscale theatre programs. When the
larger film industries emerged with more advanced theatres than the shabby ones that
nickelodeon had, prices hiked.
Competition from other emerging film companies meant new films with varying features
like cartoons, comedies, features, dramas, etc. it was a quality race that saw the advancement of
dramatic films. Cinema owners realized that high-quality movies gave them the confidence to
charge more on the tickets. Therefore, the cinemas on the hand resulted in high profits, and the
cinemas needed to pay extra for the film rentals. Before the 1910 film revolution, the prices for
nickelodeon was bet...
Review
Review
