eco week 2.docx ECO/535 Economic Concentration Evaluation ECO/535 Economic Concentra

Document Content and Description Below

eco week 2.docx ECO/535 Economic Concentration Evaluation ECO/535 Economic Concentration Evaluation Silicon Valley is a specific designated industrial area or cluster located in the southern pa... rt of San Fransisco in the United States, which is mainly specialized for Information Technology (IT) operations and business and technical innovation or expertise. The entire area comprises nearly 2000 IT and technology companies of different sizes and capacities, which the largest and densest IT industrial hub in the world. Now, one of the major and fundamental attributes of the development and commercial rise of the Silicon Valley area include the competitive forces in the IT market which essentially led to the creation of an economic hub based on the conglomeration of the IT and technology firms or companies which subsequently facilitates the advancement of technical knowledge and innovation. In this context, the companies or firms in the Silicon Valley area can compete freely and autonomously without any additional external economic benefits or advantages such as government subsidies, tax cuts or benefits, import tax credits, access rights to inputs or factors of production, and so on. Therefore, the prevailing economic conditions or factors in the IT market are faced and exploited equitably by all the competing firms or companies within the industrial cluster. As opposed to the external economic facilities or advantages such as government subsidies, tax benefits, or administrative protection. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

Last updated: 1 year ago

Preview 1 out of 5 pages