Question

A new technique for extracting oil and gas—called "fracking"—spurred an economic boom in the formerly sleepy town of Oilville, located in what had been thought to be a depleted oil field. Workers swarmed into the town, and Karen started a laundry service to meet their needs. In this case, Karen had spotted an entrepreneurial opportunity created by the new extraction technique, or a ___________________, which in turn created an oil boom, or a(n) __________________.

Answer 1

Answer: technological discovery; economic dislocation

Explanation:

In the scenario described, Karen had spotted an entrepreneurial opportunity that was created by the new extraction technique, or a technological discovery. When there's a technological discovery, there will be new opportunities for people.

The technological discovery created an oil boom or an economic dislocation. When there's a change in economic conditions as a result of displacement of some workers, we say the affected people have been dislocated from the affected economy, in terms of employment.