What Is the Definition of a Megacity? How Many Exist

question 7

Essay

What is the definition of a megacity? How many exist globally? Identify one positive and one negative impact that the growth of megacities may have on the environment.

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Definitions:

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the extent to which a firm exceeds the opportunity cost of its resources.

Market Adjustment

Market Adjustment refers to the changes in price levels and economic variables in response to supply and demand dynamics.

Economic Losses

The difference when total costs exceed total revenues, indicating that a business is not profitable.

Demand for Corn

The quantity of corn that consumers are willing and able to purchase at a given price, influenced by factors such as price, income, and substitutes.