REM 520 Study Guide - Midterm Guide: List Of Steel Producers, Marginal Utility, Physical Capital
27 Mar 2017
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Document Summary
Chapter 1 introduction and axioms of urban economics. The discipline of urban economics is defined by the intersection of geography and economics. An urban economist defines an urban area as a geographical area that contains a large number of people in a relatively small area. To qualify as a metropolitan area, the minimum population is 50,000 people: micropolitan area: a smaller version of a metropolitan area with a concentration of 10,000 to. 50,000 people: principal city: the largest municipality in each metropolitan or micropolitan statistical area. A municipality is defined as an area over which a municipal corporation exercises political authority and provides local government services such as sewage service, crime protection, and fire protection. Cities exist because human technology has created systems of production and exchange that seem to defy the natural order. Three conditions must be satisfied for a city to develop: agricultural surplus.
