Silicon Valley in California is the world center for the computer and semiconductor industry and has many of the world's major computer and semiconductor companies located close to each other there. This provides the location-specific advantage of

Externalities

Explanation:

When we discuss externalities, we refer to specific benefits or costs an organisation enjoys or suffers as a third party as a result of having no direct control over how those benefits or costs are created.

Externalities are both positive (benefits) or negative (costs), they can also be private (to an individual or a business) or public (affect the enitre society)

When a computer based organisation is based in Silicon Valley, the advantages to business it enjoys as a result of that location is the location-specific advantage of Externalities.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.