Economic Growth Case Study - Silicon Valley, California Flashcards
How many millionaires/billionaires are there relative to the population in Silicon Valley?
It has the most millionaires and billionaires relative to the population.
What is the name of the major university in Silicon Valley, and how does it contribute towards the economy in this area?
Stanford University is one of the most prestigious universities in the world and is known for science and engineering. This provides highly trained employees to tech companies in the area.
How does the multiplier effect and agglomeration help the economy in Silicon Valley?
The high concentration of high value tech companies causes lots of money to spent in the area, which leads to further economic increase.
What are three examples of tech companies in Silicon Valley?
Apple, Intel, Adobe, NVIDIA, Meta, Tesla, OpenAI, etc.
What major technological development gave Silicon Valley its name?
The silicon superconductor.
How much US venture capital is spent in Silicon Valley, and what is it used for?
Nearly half of all venture capital, which funds new tech start-ups and innovation.
