Economics> Economics > Defining Urban Areas Chapter 1:
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Greatest invention Economics aspects: Natural advantage; Created advantage; Productivity; Surplus; Public goods; Innovation; Exchange and specializtion.
Firm Location and Where Cities Develop
•Trading centers and factory hubs •Comparative advantage of regions –Based on productivity •Specialization –leads concentration of economic activity
Adam Smith and the Productivity Argument of Absolute Advantage
Porter’s Competitive Advantage: Clusters
Six Key Concepts of Urban microeconomics: 1. Opportunity Cost 2. Marginal Principle 3. Nash Equilibrium 4. Comparative Statics 5. Pareto Efficiency 6. Self-Reinforcing Changes
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