©BRIGHTSTARS EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
URBS 230 FINAL EXAM Study Guide.
Laissez-faire - Answers✔- 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 - Answers✔the government gets rid of capitalists, replaces them with workers and
abolishes private properties.
Liberalism - Answers✔- shouldn't be equality in wealth
- capitalists should be able to make as much money as they want
Socialism - Answers✔get ride of private firms and allow the government to take over
Neo-liberalism - Answers✔- 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 - Answers✔the most laissez- faire
Coordinated Market Economy - Answers✔a system of coordinating through a variety of other
means in addition to market signals
centrally planned economy - Answers✔no privately-owned properties
Transition economy - Answers✔theres a raid shift to create a new economy
nationalization - Answers✔public takeover of infrastructures
ex. hydro-quebec taking over all electricity/ water supply
Global Cities - Answers✔- highly concentrated command points
- key locations for finance and firms
- sites of production
1
, ©BRIGHTSTARS EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
- markets for products and innovations
Why people migrate to global cities - Answers✔- 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 - Answers✔- 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 - Answers✔London
Tokyo
NYC
The World Bank - Answers✔- designed to provide loans for infrastructure projects (roads and
buildings)
- created after WW2
- 1970: began lending money to countries in the global south that had a lack of funds
- people are considered poor if the make less than $1 US per day
Polarization - Answers✔the distribution of income being pulled apart to high and low payed
territorial dispersal - Answers✔- a need for expanded central control
Urban South - Answers✔- less developed/ developing world used to refer to areas of lower
income who are experiencing rapid economic growth
Global South - Answers✔- basic needs aren't met: clean water, waste removal, health services
- lack of government support
spatial differentials - Answers✔low to middle income differentials in the physical environment
of housing which have some effect on people's health
Bangladesh - Answers✔- informal settlements
- low income people buildings illegal settlement in restricted areas
2
ALL RIGHTS RESERVED.
URBS 230 FINAL EXAM Study Guide.
Laissez-faire - Answers✔- 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 - Answers✔the government gets rid of capitalists, replaces them with workers and
abolishes private properties.
Liberalism - Answers✔- shouldn't be equality in wealth
- capitalists should be able to make as much money as they want
Socialism - Answers✔get ride of private firms and allow the government to take over
Neo-liberalism - Answers✔- 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 - Answers✔the most laissez- faire
Coordinated Market Economy - Answers✔a system of coordinating through a variety of other
means in addition to market signals
centrally planned economy - Answers✔no privately-owned properties
Transition economy - Answers✔theres a raid shift to create a new economy
nationalization - Answers✔public takeover of infrastructures
ex. hydro-quebec taking over all electricity/ water supply
Global Cities - Answers✔- highly concentrated command points
- key locations for finance and firms
- sites of production
1
, ©BRIGHTSTARS EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
- markets for products and innovations
Why people migrate to global cities - Answers✔- 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 - Answers✔- 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 - Answers✔London
Tokyo
NYC
The World Bank - Answers✔- designed to provide loans for infrastructure projects (roads and
buildings)
- created after WW2
- 1970: began lending money to countries in the global south that had a lack of funds
- people are considered poor if the make less than $1 US per day
Polarization - Answers✔the distribution of income being pulled apart to high and low payed
territorial dispersal - Answers✔- a need for expanded central control
Urban South - Answers✔- less developed/ developing world used to refer to areas of lower
income who are experiencing rapid economic growth
Global South - Answers✔- basic needs aren't met: clean water, waste removal, health services
- lack of government support
spatial differentials - Answers✔low to middle income differentials in the physical environment
of housing which have some effect on people's health
Bangladesh - Answers✔- informal settlements
- low income people buildings illegal settlement in restricted areas
2
