Assignment Directions
supply, demand, and economic equilibrium in the U.S. In Part 2, you will evaluate economists’ assessments of the role the four factors of production
played in determining how the economic concentration you selected has evolved.
aspects tied to a new initiative requiring knowledge about economic influence and economic concentration. Using charts and tables to
illustrate data is highly encouraged to help the interns connect the dots.
The instructor filled in the first part of the assessment so you could see what using your own words looks like. In your assessment, you can use the instructor’s sample in your submission for part 1 or do your own thing.)
Part 1: Economic Events & Activity Analysis
Review the Competency 1 Resources: Economic Fundamentals.
Write a 500- to 750-word analysis (Part 1 of your report) assessing how 2 of the following major economic events influenced supply, demand, and
economic equilibrium in U.S. economic activity:
• Rapid price increases, such as those caused by the 1973 oil embargo or the aftermath of a major hurricane
• Dramatic employment drops, such as the combined impact of the 2006 housing bubble burst and the subsequent Great Recession
• Crippling interest rates imposed by the Federal Reserve, such as those during the 1975–1985 time period
• Collapse of the Soviet Union in 1991 and the end of the Cold War and the “peace dividend”
• The dot-com bubble from 1994 to 2000, and the subsequent dot-com crash
Part 2: Economic Concentration Evaluation
Review the Competency 1 Resources: Factors of Production & Economic Concentration.
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 evaluation (Part 2 of your report) of 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 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.
• Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.
Consider the resources provided and other academically appropriate sources.
Compile Parts 1 and 2 into one report.
Cite at least 2 academically credible sources for each part. The use of charts and tables to illustrate data is highly encouraged.
Submit your report.