A metropolitan area, sometimes referred to as a metro area or commuter belt, is a region consisting of a densely populated urban core and its less-populated surrounding territories, sharing industry and housing. A metro area comprises multiple jurisdictions and municipalities: neighborhoods, boroughs, towns, suburbs, districts and nations like the eurodistricts; as social and political institutions have changed, metropolitan areas have become key economic and political regions. Metropolitan areas include one or more urban areas, as well as satellite cities and intervening rural areas that are socioeconomically tied to the urban core measured by commuting patterns. In the United States, the concept of the metropolitan statistical area has gained prominence. Metropolitan areas may themselves be part of larger megalopolises. For urban centres outside metropolitan areas, that generate a similar attraction at smaller scale for their region, the concept of the regiopolis and regiopolitan area or regio was introduced by German professors in 2006.
In the United States, the term micropolitan statistical area is used. A metropolitan area combines an urban agglomeration with zones not urban in character, but bound to the center by employment or other commerce; these outlying zones are sometimes known as a commuter belt, may extend well beyond the urban zone, to other political entities. For example, New York on Long Island is considered part of the New York metropolitan area. In practice, the parameters of metropolitan areas, in both official and unofficial usage, are not consistent. Sometimes they are little different from an urban area, in other cases they cover broad regions that have little relation to a single urban settlement. Population figures given for one metro area can vary by millions. There has been no significant change in the basic concept of metropolitan areas since its adoption in 1950, although significant changes in geographic distributions have occurred since and more are expected; because of the fluidity of the term "metropolitan statistical area," the term used colloquially is more "metro service area," "metro area," or "MSA" taken to include not only a city, but surrounding suburban and sometimes rural areas, all which it is presumed to influence.
A polycentric metropolitan area contains multiple urban agglomerations not connected by continuous development. In defining a metropolitan area, it is sufficient that a city or cities form a nucleus with which other areas have a high degree of integration. See the many lists of metropolitan areas itemized at § Lists of metropolitan areas; the Australian Bureau of Statistics defines Greater Capital City Statistical Areas as the areas of functional extent of the seven state capitals and the Australian Capital Territory. GCCSAs replaced "Statistical Divisions" used until 2011. In Brazil, metropolitan areas are called "metropolitan regions"; each State defines its own legislation for the creation and organization of a metropolitan region. The creation of a metropolitan region is not intended for any statistical purpose, although the Brazilian Institute of Geography and Statistics uses them in its reports, their main purpose is to allow for a better management of public policies of common interest to all cities involved.
They don't have political, electoral or jurisdictional power whatsoever, so citizens living in a metropolitan region do not elect representatives for them. Statistics Canada defines a census metropolitan area as an area consisting of one or more adjacent municipalities situated around a major urban core. To form a CMA, the metropolitan area must have a population of at least 100,000, at least half within the urban core. To be included in the CMA, adjacent municipalities must have a high degree of integration with the core, as measured by commuter flows derived from census data. In Chinese, there used to be no clear distinction between "megalopolis" and "metropolitan area" until National Development and Reform Commission issued Guidelines on the Cultivation and Development of Modern Metropolitan Areas on Feb 19, 2019, in which a metropolitan area was defined as "an urbanized spatial form in a megalopolis dominated by supercity or megacity, or a large metropolis playing a leading part, within the basic range of 1-hour commute area."
The European Union's statistical agency, has created a concept named Larger Urban Zone. The LUZ represents an attempt at a harmonised definition of the metropolitan area, the goal was to have an area from a significant share of the resident commute into the city, a concept known as the "functional urban region". France's national statistics institute, the INSEE, names an urban core and its surrounding area of commuter influence an aire urbaine; this statistical method applies to agglomerations of all sizes, but the INSEE sometimes uses the term aire métropolitaine to refer to France's largest aires urbaines. In German definition, metropolian areas are eleven most densely populated areas in the Federal Republic of Germany, they comprise the major German cities and their surrounding catchment areas and form the political and cultural centres of the country. For urban centres outside metropolitan areas, that generate a similar attraction at smaller scale for their region, the concept of the Regiopolis and regiopolitan area or regio was introduced by German professors in 2006.
In India, a metropolitan city is defin
An economy is an area of the production, distribution, or trade, consumption of goods and services by different agents. Understood in its broadest sense,'The economy is defined as a social domain that emphasize the practices and material expressions associated with the production and management of resources'. Economic agents can be individuals, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain. Economic activity is spurred by production which uses natural resources and capital, it has changed over time due to technology, innovation such as, that which produces intellectual property and changes in industrial relations. A given economy is the result of a set of processes that involves its culture, education, technological evolution, social organization, political structure and legal systems, as well as its geography, natural resource endowment, ecology, as main factors.
These factors give context and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human transactions, it does not stand alone. A market-based economy is one where goods and services are produced and exchanged according to demand and supply between participants by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency. A command-based economy is one where political agents directly control what is produced and how it is sold and distributed. A green economy is low-carbon, resource efficient, inclusive. In a green economy, growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, prevent the loss of biodiversity and ecosystem services. A gig economy is one in which short-term jobs are assigned via online platforms and a programmable economy is the set of revolutionary changes taking place in the global economy due to technology innovations.
✓. Today the range of fields of study examining the economy revolves around the social science of economics, but may include sociology, history and geography. Practical fields directly related to the human activities involving production, distribution and consumption of goods and services as a whole are engineering, business administration, applied science, finance. All professions, economic agents or economic activities, contribute to the economy. Consumption and investment are variable components in the economy that determine macroeconomic equilibrium. There are three main sectors of economic activity: primary and tertiary. Due to the growing importance of the economical sector in modern times, the term real economy is used by analysts as well as politicians to denote the part of the economy, concerned with the actual production of goods and services, as ostensibly contrasted with the paper economy, or the financial side of the economy, concerned with buying and selling on the financial markets.
Alternate and long-standing terminology distinguishes measures of an economy expressed in real values, such as real GDP, or in nominal values. The English words "economy" and "economics" can be traced back to the Greek word οἰκονόμος, a composite word derived from οἶκος and νέμω by way of οἰκονομία; the first recorded sense of the word "economy" is in the phrase "the management of œconomic affairs", found in a work composed in a monastery in 1440. "Economy" is recorded in more general senses, including "thrift" and "administration". The most used current sense, denoting "the economic system of a country or an area", seems not to have developed until the 1650s; as long as someone has been making and distributing goods or services, there has been some sort of economy. Sumer developed a large-scale economy based on commodity money, while the Babylonians and their neighboring city states developed the earliest system of economics as we think of, in terms of rules/laws on debt, legal contracts and law codes relating to business practices, private property.
The Babylonians and their city state neighbors developed forms of economics comparable to used civil society concepts. They developed the first known codified legal and administrative systems, complete with courts and government records; the ancient economy was based on subsistence farming. The Shekel referred to an ancient unit of currency; the first usage of the term came from Mesopotamia circa 3000 BC. and referred to a specific mass of barley which related other values in a metric such as silver, copper etc. A barley/shekel was both a unit of currency and a unit of weight, just as the British Pound was a uni
Finance is a field, concerned with the allocation of assets and liabilities over space and time under conditions of risk or uncertainty. Finance can be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance. Matters in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economies Transference of family wealth across generations Effects of tax policies management of personal finances Effects of credit on individual financial standing Development of a savings plan or financing for large purchases Planning a secure financial future in an environment of economic instability Pursuing a checking and/or a savings account Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance and saving for retirement.
Personal finance may involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are: Financial position: is concerned with understanding the personal resources available by examining net worth and household cash flows. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flows total up all from the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. Adequate protection: the analysis of how to protect a household from unforeseen risks; these risks can be divided into the following: liability, death, disability and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract.
Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. Tax planning: the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax; as one's income grows, a higher marginal rate of tax must be paid. Understanding how to take advantage of the myriad tax breaks when planning one's personal finances can make a significant impact in which can save you money in the long term. Investment and accumulation goals: planning how to accumulate enough money – for large purchases and life events – is what most people consider to be financial planning.
Major reasons to accumulate assets include purchasing a house or car, starting a business, paying for education expenses, saving for retirement. Achieving these goals requires projecting what they will cost, when you need to withdraw funds that will be necessary to be able to achieve these goals. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which will subject the portfolio to a number of risks. Managing these portfolio risks is most accomplished using asset allocation, which seeks to diversify investment risk and opportunity; this asset allocation will prescribe a percentage allocation to be invested in stocks, bonds and alternative investments.
The allocation should take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. Retirement planning is the process of understanding how much it costs to live at retirement, coming up with a plan to distribute assets to meet any income shortfall. Methods for retirement plans include taking advantage of government allowed structures to manage tax liability including: individual structures, or employer sponsored retirement plans and life insurance products. Estate planning involves planning for the disposition of one's assets after death. There is a tax due to the state or federal government at one's death. Avoiding these taxes means that more of one's assets will be distributed to one's heirs. One can leave one's assets to friends or charitable groups. Corporate finance deals with the sources of funding and the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, the tools and analysis used to allocate financial resources.
Although it is in principle different from managerial finance which studies the financial management of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms. Corporate f
An administrative division, entity, area or region referred to as a subnational entity, constituent unit, or country subdivision, is a portion of a country or other region delineated for the purpose of administration. Administrative divisions are granted a certain degree of autonomy and are required to manage themselves through their own local governments. Countries are divided up into these smaller units to make managing their land and the affairs of their people easier. A country may be divided into provinces, which, in turn, may be divided in whole or in part into municipalities. Administrative divisions are conceptually separate from dependent territories, with the former being an integral part of the state and the other being only under some lesser form of control. However, the term "administrative division" can include dependent territories as well as accepted administrative divisions. For clarity and convenience the standard neutral reference for the largest administrative subdivision of a country is called the "first-level administrative division" or "first administrative level".
Next smaller is called "second-level administrative division" or "second administrative level". In many of the following terms originating from British cultural influence, areas of low mean population density might bear a title of an entity one would expect to be either larger or smaller. There is no fixed rule, for "all politics is local" as is well demonstrated by their relative lack of systemic order. In the realm of self-government, any of these can and does occur along a stretch of road—which for the most part is passing through rural unsettled countryside. Since the terms are administrative political subdivisions of the local regional government their exact relationship and definitions are subject to home rule considerations, tradition, as well as state statute law and local governmental definition and control. In British cultural legacy, some territorial entities began with expansive counties which encompass an appreciably large area, but were divided over time into a number of smaller entities.
Within those entities are the large and small cities or towns, which may or may not be the county seat. Some of the world's larger cities culturally, if not span several counties, those crossing state or provincial boundaries have much in common culturally as well, but are incorporated within the same municipal government. Many sister cities share a water boundary, which quite serves as a border of both cities and counties. For example and Boston, Massachusetts appear to the casual traveler as one large city, while locally they each are quite culturally different and occupy different counties. General terms for these incorporated places include "municipality," "settlement," "locality," and "populated place." Borough, burgh or "boro" City Shire Town Township Village Tribe Indian reservation Indian reserve Band Rancheria Due to variations in their use worldwide, consistency in the translation of terms from non-English to English is sometimes difficult to maintain. Sovereign state, a national or supra-national division.
Country, a national or sub-national division. Empire, a supra-national division. GADM, a high-resolution database of country administrative areas. ISO 3166-2 Codes for the representation of names of countries and their subdivisions — Part 2. List of administrative division name changes List of etymologies of country subdivision names List of administrative divisions by country United Nations' Second Administrative Level Boundaries dataset Statoids, an international convention with standardized two-letter-based multi-level summaries of administrative divisions worldwide