Explain ? The process of population movement from rural to urban regions that leads to the growth
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The process of population movement from rural to urban regions that leads to the growth and expansion of cities is referred to as urbanization (Britannica. 2023). In recent years, this natural occurrence has been unfolding at an unprecedented rate, altering civilizations and landscapes all across the world. 81.65% of Canada is considered to be an urban area, with Toronto being the largest metropolitan area (The Daily, 2022). Although urbanization can have certain negative effects on our economy, the good outweighs the bad. Economic growth can be increased by urbanization, and its effects on the economy can act as a catalyst for such expansion. In 2021, Canada's economic growth was 5.9%; in 2018, it was 1.8%, slowed significantly by shrinkage in the industrial sector and several important service-based industries (RBC, 2023) Cities frequently act as innovation, education, and industry centers, promoting the growth of new sectors and employment creation (Dobbs, Remes, & Woetzel, 2018). Furthermore, they encourage economies of scale and cluster effects, which allow for cost reductions and enhanced production (Sridhar & Wan, 2010). Rapid urbanization, on the other hand, can lead to uneven income distribution and greater poverty if resources fail to keep up with the rising population (Bloom, Khanna, & Wyplosz, 2021). This is why it is important that we control our population best we can and make sure that we monitor the number of immigrants entering the country. The process of population movement from rural to urban regions that leads to the growth and expansion of cities is referred to as urbanization (Britannica. 2023). In recent years, this natural occurrence has been unfolding at an unprecedented rate, altering civilizations and landscapes all across the world. 81.65% of Canada is considered to be an urban area, with Toronto being the largest metropolitan area (The Daily, 2022). Although urbanization can have certain negative effects on our economy, the good outweighs the bad. Economic growth can be increased by urbanization, and its effects on the economy can act as a catalyst for such expansion. In 2021, Canada's economic growth was 5.9%; in 2018, it was 1.8%, slowed significantly by shrinkage in the industrial sector and several important service-based industries (RBC, 2023) Cities frequently act as innovation, education, and industry centers, promoting the growth of new sectors and employment creation (Dobbs, Remes, & Woetzel, 2018). Furthermore, they encourage economies of scale and cluster effects, which allow for cost reductions and enhanced production (Sridhar & Wan, 2010). Rapid urbanization, on the other hand, can lead to uneven income distribution and greater poverty if resources fail to keep up with the rising population (Bloom, Khanna, & Wyplosz, 2021). This is why it is important that we control our population best we can and make sure that we monitor the number of immigrants entering the country.
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International marketing
ISBN: 978-0077446956
15th Edition
Authors: Philip R. Cateora, Mary C. Gilly, John L. Graham
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