URBS 230 FINAL EXAM QUESTION AND
ANSWERS 100% SOLVED
Laissez-faire - ✔✔- Idea that the government should play as small a role as
possible in economic affairs.
- people are focused on making money and becoming someone wealthy
Communism - ✔✔the government gets rid of capitalists, replaces them with
workers and abolishes private properties.
Liberalism - ✔✔- shouldn't be equality in wealth
- capitalists should be able to make as much money as they want
Socialism - ✔✔get ride of private firms and allow the government to take
over
Neo-liberalism - ✔✔- privatization of land, housing and infrastructure
- our society should be more competitive and have more freedom
- encourage more private and profit-making activity
Liberal Market Economy - ✔✔the most laissez- faire
Coordinated Market Economy - ✔✔a system of coordinating through a
variety of other means in addition to market signals
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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, centrally planned economy - ✔✔no privately-owned properties
Transition economy - ✔✔theres a raid shift to create a new economy
nationalization - ✔✔public takeover of infrastructures
ex. hydro-quebec taking over all electricity/ water supply
Global Cities - ✔✔- highly concentrated command points
- key locations for finance and firms
- sites of production
- markets for products and innovations
Why people migrate to global cities - ✔✔- there are more natural resources
- higher level of innovation and activity
- that there were already people there
- the ability to make a lot of money and flourish their business
New York City - ✔✔- made the USA the centre of economic activity
- increasing the labour division
ex. banking, insurance, sales, entertainment, transportation
- had become the largest city at the end of WW2
Leaders of Global Cities - ✔✔London
Tokyo
NYC
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
ANSWERS 100% SOLVED
Laissez-faire - ✔✔- Idea that the government should play as small a role as
possible in economic affairs.
- people are focused on making money and becoming someone wealthy
Communism - ✔✔the government gets rid of capitalists, replaces them with
workers and abolishes private properties.
Liberalism - ✔✔- shouldn't be equality in wealth
- capitalists should be able to make as much money as they want
Socialism - ✔✔get ride of private firms and allow the government to take
over
Neo-liberalism - ✔✔- privatization of land, housing and infrastructure
- our society should be more competitive and have more freedom
- encourage more private and profit-making activity
Liberal Market Economy - ✔✔the most laissez- faire
Coordinated Market Economy - ✔✔a system of coordinating through a
variety of other means in addition to market signals
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, centrally planned economy - ✔✔no privately-owned properties
Transition economy - ✔✔theres a raid shift to create a new economy
nationalization - ✔✔public takeover of infrastructures
ex. hydro-quebec taking over all electricity/ water supply
Global Cities - ✔✔- highly concentrated command points
- key locations for finance and firms
- sites of production
- markets for products and innovations
Why people migrate to global cities - ✔✔- there are more natural resources
- higher level of innovation and activity
- that there were already people there
- the ability to make a lot of money and flourish their business
New York City - ✔✔- made the USA the centre of economic activity
- increasing the labour division
ex. banking, insurance, sales, entertainment, transportation
- had become the largest city at the end of WW2
Leaders of Global Cities - ✔✔London
Tokyo
NYC
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
