Innovation and physical capital

 

.Discussion 1

Which field of natural science interests you the most and why?
Is this field related to the issue that you chose to research for your project?

Discussion 2

Innovation and physical capital are 2 of the 4 factors of production.

Respond to the following in a minimum of 175 words:

Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:
1862 Pacific Railway Act
1956 Federal Aid Highway Act
1946 Federal Airport Act
What other examples of economic concentration can you share?
What are the risks and advantages to economic concentration?
How has economic concentration influenced your industry?

Discussion 3

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 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.

Sample Solution

Innovation and physical capital

The rapid settlement of the western territories in the 1850s convinced most members of Congress of the need for efficient rail transport to the Pacific coast, but which route would the railroad follow? After Southern states seceded, Congress agreed on a northern route to the Pacific and to the use of federal lands to subsidize the construction of a railroad and telegraph line. The Pacific Railway Act, which became law on July 1, 1862, offered government incentives to assist “men of talent, men of character, men who are willing to invest” in developing the nation`s first transcontinental rail line. The legislative efforts that resulted in the Pacific Railway Act led to the successful completion of the transcontinental railroad, which reduced the travel time across the continent from several months to one week and is considered one of the greatest technological achievements of the 19th century.

are many potential types of errors in survey sampling. According to Groves (1989)[see 1], the survey errors can be divided into two major groups: First, the errors of nonobservation where the sampled elements use only part of the target population, and the second one is the errors of observation, where the listed data deviate from the truth. Some examples of errors of nonobservation can be ascribed to sampling, coverage or nonresponse which is going to be analysed in the later part of this report. On the other hand, examples of errors of observation can be attributed to the interviewer, respondent or method of data collection. Both of our sources of obdurate errors can vigorously affect the accuracy of a survey. However, these errors cannot be eliminated from a survey but their effects can be reduced by careful devotion to an acceptable sampling plan. Some ways to reduce those errors are: callbacks (where the interviewer calls again the nonrespondents), offer rewards and motivation for encouraging responses, train better the interviewers, scrutinise the questionnaires to be sure that the form has been filled correctly and have an accurate questionnaire construction.

Types of probability samples

3.1 Simple Random Sampling

Simple random sampling provides a natural starting point for a discussion of probability sampling methods, not because it is widely used, but because it is the simplest method and it underlies many of the more complex methods (Kalton 1983)[see 3]. The definition states that a simple random sampling is a subset of individuals chosen from a population. Each single person in this sample is chosen randomly and entirely by chance. Therefore, as a principle, they have the same probability of being chosen at any stage during the sampling process and vice versa. For example, suppose N elderly people want to get a ticket for a concert, but there are only X<N tickets for them, so they decide to have a fair way to decide who gets to go. Then, every elderly person gets a number in the range between 0 and N-1, and random numbers are generated, either electronically or from a table of random numbers. Thus, the first X numbers would identify the lucky ticket winners. This type of probability sample is commonly used without replacement in both small and large populations. Especially, for large samples this method can be used with replacement while obtaining same results because the probability of drawing the same person is very small. Advantages of this type are that is free of classification error, it requires minimum advance knowledge of the population other than the frame and it allows one to draw externally valid conclusions about the entire population. Nevertheless, the survey conductor should be careful to make an unbiased random selection of individuals so that if a large number of samples were drawn, the average sample would accurately represent the population. Generally, it is appropriate to use this method because its simplicity makes it relatively easy to interpret data collected in this manner and it best suits situations where not much information is available about the population and data collection can be efficiently conducted

This question has been answered.

Get Answer
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
👋 Hi, Welcome to Compliant Papers.