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Economics is the study of the allocation of scarce resources, and as all economic phenomena take place within a geographical space, urban economics focuses on the allocation of resources across space in relation to urban areas (Arnott & McMillen 2006:7) (McCann 2001:1).
An out growth (OG) is an urban settlement contiguous to another urban area (such as a statutory town, census town, or city) that possesses urban characteristics but is not qualified as an independent town. It should not possess any uninhabited areas, and should be strictly contiguous with the town. [1] The 2011 Census of India defined it as:
Urban areas often suffer from traffic congestion, which creates extra driver costs for the company that may have otherwise been reduced if they were located in a suburban area near a highway instead. [ citation needed ] Lower property taxes and low land prices encourage selling industrial land for profitable brownfield redevelopment.
Economic: Economic agglomeration can create some economic benefits but also tends to widen the disparity between rich areas and poor areas and increase interregional inequality. [22] Interregional inequality cannot be prevented because it is a necessary stage during economic development.
The bid rent theory is a geographical economic theory that refers to how the price and demand for real estate change as the distance from the central business district (CBD) increases. Bid Rent Theory was developed by William Alonso in 1964, it was extended from the Von-thunen Model (1826), who analyzed agricultural land use.
Urban structure is the arrangement of land use in urban areas, in other words, how the land use of a city is set out. [1] Urban planners , economists , and geographers have developed several models that explain where different types of people and businesses tend to exist within the urban setting.
Urban decline, under these conditions, only worsened. [27] View of suburban development in the Phoenix metropolitan area. The more recent phenomenon of urban sprawl across American cities such as Phoenix and Los Angeles, were only made possible under the conditions of a car culture. [27]
Urban planning, also known as town planning, city planning, regional planning, or rural planning in specific contexts, is a technical and political process that is focused on the development and design of land use and the built environment, including air, water, and the infrastructure passing into and out of urban areas, such as transportation ...