Question

What are the economic efforts of urbanization? (5)​

Answer 1

Answer:

Urbanization permits external scale and scope economies, reduces transactions costs, and allows specialization among firms leading to low costs of production. 6 7 Rosenthal and Strange (2004) report that doubling the size of cities can lead to an increase in productivity of some 3– 8%.

Answer 2

Answer:

Urbanization permits external scale and scope economics, reduces transaction costs and allows specialization among firms leading to low cost of production. 67 Rosenthal and strenge (2004) report that doubling the size of cities can lead to an increase in productivity of some 3-8%