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However, if the research is based on structural advantages and trends in data, then, Los Angeles will emerge as the next Silicon Valley (Redmond, 2012). According to various sources, Los Angeles has built momentum over the last three years. In fact, Los Angeles has established a tough foundation for emerging as the next hub for technology entrepreneurship.
On the other hand, states like New England and Southern California, also pose a powerful probability of becoming the next Silicon Valley. In 1995, Southern California attracted up to $1.3 million while Silicon Valley and New England attracted $1.8 million and $0.8 million of business enterprise capital investment (Redmond, 2012). Later on, in 1999, the internet had attracted other entrepreneurs in the regions hence, increasing the investments. In this period, New England also managed to grow rapidly as compared to South California. In the past five years, New York and Southern California have substantially increased their investments. These locations have boosted three crucial structural merits. These structural advantages include significant technical talent, capital availability and entrepreneurship culture.
Los Angeles has developed in terms of technical talent that is attributed by the heritage of engineering and technical innovation. Most of the tertiary institutions in Los Angeles are producing more graduates in the technical field. Furthermore, the country is also attracting more learners across the world to join the technical studies (Redmond, 2012). In fact, most of the government funds are directed to invest in entertainment and media facilities. The most exemplary example in this case is the presence of Google in the country, which has a substantial focus on the technical sector. Los Angeles has also been influenced by strong investors who are partnering with the entrepreneurs in the country in order to build technology companies. The entrepreneurs in Los Angeles have a
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The theory of absolute advantage argued that, citizens of every nation had the ability to improve their economic welfare by specialising in the production of goods in which they possessed an absolute advantage and exporting them to other countries (Ghai and Gupta 2001).
The comparative advantage suggests that even in case of a country lacking absolute advantage of specialization in any good it can produce and trade with other nations, it still has the option of specializing in production and export of those products with which it has some what relative advantage (Bromley, Mackintosh, Brown and Wuyts, 2004, p.
It discusses the basic theory that assumes that all the factors of production are immobile and that both (all) countries have the capacity to produce both (or all) goods. Further more I have illustrated through theory example of labor matrix, besides those concepts like Opportunity costs, Demand and Trade impediments has also been discussed.
The industry structure and the positioning within a particular industry are the basis on which Porter has promoted his theory of competitive advantage. He states that the bargaining power of buyers and suppliers, and the threats
(Mankiw, 2010) Another critical source of comparative advantage for US is in cereals wherein it has been able to produce cereals at relatively cheaper prices as compared to other countries.
States has relatively strong agricultural base and it produces large number of grain, rice, wheat, maize, barley, oats, etc which are all cereal crops (Trading Economics, 2012). These cereal crops require fertile land and rainfalls and there is no shortage of both in United
f rapidly growing technology on the future, and the question of whether there can be a perfect world, devoid of the chaos that characterize our society. Spearheading the time travel debate, Carl Sagan indicates that there is a possibility that people can travel through time,
Even in such a situation, both countries stand to benefit from trading with one another as long as their relative efficiencies are different. Gains from trade are the net benefits each country enjoys from bilateral trade.
While for acute bronchitis, the treatment is directed to symptoms management (Buttaro, Trybulski, Bailey, & Sandberg-Cook, 2013).
I agree with Peng Anderson that symptoms of acute bronchitis and pneumonia differ from