|
Spatial Inequality
Spatial inequality refers to the unequal distribution of income and resources across geographical regions. Attributable to local differences in infrastructure, geographical features (presence of mountains, coastlines, particular climates, etc.) and economies of agglomeration,Romero, Jessie and Schwartzman, Felipe FInequality in and across Cities October 2018, No. 18-10. Federal Reserve Bank of Richmond Economic Brief. such inequality remains central to public policy discussions regarding economic inequality more broadly. Whilst jobs located in urban areas tend to have higher nominal wages (unadjusted for differences in price levels or inflation) than rural areas, the cost-of-living and availability of skilled work correlates to regional divergences in real income and output. Additionally, the spatial component of public infrastructure affects access to quality healthcare and education (key elements of human capital and worker productivity, which directly impacts economic well-bein ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Inequality
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of wealth people own). Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth, income, and consumption. There are many methods for measuring economic inequality, the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Whereas globalization has reduced global inequality (between nations), it has increased inequality within nations. Income inequality between nations peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cultural Capital
In the field of sociology, cultural capital comprises the social assets of a person (education, intellect, style of speech, style of dress, etc.) that promote social mobility in a stratified society. Cultural capital functions as a social relation within an economy of practices (i.e. system of exchange), and includes the accumulated cultural knowledge that confers social status and power; thus cultural capital comprises the material and symbolic goods, without distinction, that society considers rare and worth seeking. There are three types of cultural capital: (i) embodied capital, (ii) objectified capital, and (iii) institutionalised capital. Pierre Bourdieu and Jean-Claude Passeron coined and defined the term ''cultural capital'' in the essay "Cultural Reproduction and Social Reproduction" (1977). Bourdieu then developed the concept in the essay "The Forms of Capital" (1985) and in the book ''The State Nobility: Élite Schools in the Field of Power'' (1996) to explain that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Sector
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa but less than 1% of GDP in North America. In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods in poorer countries. More developed economies may invest additional capital in primary means of production: for example, in the United States corn belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and Togo in the east.Jackson, John G. (2001) ''Introduction to African Civilizations'', Citadel Press, p. 201, . Ghana covers an area of , spanning diverse biomes that range from coastal savannas to tropical rainforests. With nearly 31 million inhabitants (according to 2021 census), Ghana is the List of African countries by population, second-most populous country in West Africa, after Nigeria. The capital and List of cities in Ghana, largest city is Accra; other major cities are Kumasi, Tamale, Ghana, Tamale, and Sekondi-Takoradi. The first permanent state in present-day Ghana was the Bono state of the 11th century. Numerous kingdoms and empires emerged over the centuries, of which the most powerful were the Kingdom of Dagbon in the north and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gains From Trade
In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other. In technical terms, they are the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade. Dynamics Gains from trade are commonly described as resulting from: * specialization in production from division of labor, economies of scale, scope, and agglomeration and relative availability of factor resources in types of output by farms, businesses, location and economies * a resulting increase in total output possibilities * trade through markets from sale of one type of output for other, more highly valued goods. Market incentives, such as reflected in prices of outputs and inputs, are theorized to attract factors of production, including labor, into activities according to comparative advantage, that is, for which they each have a low opportunity cost. The factor owners then use their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comparative Advantage
In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress. (The absolute advantage, comparing output per time (labor efficiency) or per quantity of input material (monetary efficiency), is generally considered more intuitive, but less accurate — as long as the opportunity costs of producing goods across countries vary, productive trade is possible.) David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing ''every'' single good than workers in other countries. He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Spillover
Knowledge spillover is an exchange of ideas among individuals.Carlino, Gerald A. (2001) Business Review Knowledge Spillovers: Cities' Role in the New Economy.'' Q4 2001. In knowledge management economics, knowledge spillovers are non-rival knowledge market costs incurred by a party not agreeing to assume the costs that has a spillover effect of stimulating technological improvements in a neighbor through one's own innovation. Such innovations often come from specialization within an industry. A recent, general example of a knowledge spillover could be the collective growth associated with the research and development of online social networking tools like Facebook, YouTube, and Twitter. Such tools have not only created a positive feedback loop, and a host of originally unintended benefits for their users, but have also created an explosion of new software, programming platforms, and conceptual breakthroughs that have perpetuated the development of the industry as a whole. The adv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positive Externalities
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All consumers are all made worse off by pollution but are not compensated by the market for this damage. A positive externality is when an individual's consumption in a market increases the well-being of others, but the individual does not charge the third party for the benefit. The third party is essentially getting a free product. An example of this might be the apartment above a bakery receiving the benefit of enjoyment from smelling fresh pastries every morni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Geography
Economic geography is the subfield of human geography which studies economic activity and factors affecting them. It can also be considered a subfield or method in economics. There are four branches of economic geography. There is, primary sector, Secondary sector, Tertiary sector, & Quaternary sector. Economic geography takes a variety of approaches to many different topics, including the location of industries, economies of agglomeration (also known as "linkages"), transportation, international trade, development, real estate, gentrification, ethnic economies, gendered economies, core-periphery theory, the economics of urban form, the relationship between the environment and the economy (tying into a long history of geographers studying culture-environment interaction), and globalization. Theoretical background and influences There are varied methodological approaches. Neoclassical location theorists, following in the tradition of Alfred Weber, tend to focus on industria ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agglomerations
An urban area, built-up area or urban agglomeration is a human settlement with a high population density and infrastructure of built environment. Urban areas are created through urbanization and are categorized by urban morphology as cities, towns, conurbations or suburbs. In urbanism, the term contrasts to rural areas such as villages and hamlets; in urban sociology or urban anthropology it contrasts with natural environment. The creation of earlier predecessors of urban areas during the urban revolution led to the creation of human civilization with modern urban planning, which along with other human activities such as exploitation of natural resources led to a human impact on the environment. "Agglomeration effects" are in the list of the main consequences of increased rates of firm creation since. This is due to conditions created by a greater level of industrial activity in a given region. However, a favorable environment for human capital development would also be gene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. This is just a partial description of the concept. Economies of scale apply to a variety of the organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urban Economics
Urban economics is broadly the economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance. More specifically, it is a branch of microeconomics that studies urban spatial structure and the location of households and firms . Much urban economic analysis relies on a particular model of urban spatial structure, the monocentric city model pioneered in the 1960s by William Alonso, Richard Muth, and Edwin Mills. While most other forms of neoclassical economics do not account for spatial relationships between individuals and organizations, urban economics focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities. Since its formulation in 1964, Alonso's monocentric city model of a disc-shaped Central Business District (CBD) and the surrounding residential region has served as a st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
