Class notes
Lecture 6
- Course
- GGR252 (GGR252)
- Institution
- University Of Toronto (U Of T )
Lecture notes of 12 pages for the course GGR252 at U of T (L6)
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Week 6Monday February 9th 2015
Spatial Definition of The Market: Demand and Cost Curve, Bid Rent Curve
Spatial Definition of Market
Key issues
o Distance
People will travel certain distances to buy certain goods
Most retail happens in a local
Less then 10km for a particular good
o Levels of Accessibility
How long it takes you to get to the spot
More complicated when you introduce shopping to urban downtown
Also depends on socioeconomic
High income are more mobile
Young and elderly are not that mobile
o Level of Attraction
People will travel to stores based on there experience of the store
Size of the facility, the larger the more attractive
Demand Curve
Relationship price and number of units/ items sold
The price of the product will determine the level of demand
The higher the less profit
Suggest there is always a demand and that demand never reaches zero
Spatial Demand Curve
Relationship between distance (travel cost), price of unit/item and number sold
It considers the distance, travel cost, and price unit
Travel cost is added to the cost of the unit
You can get to a point of zero demand when including cost of travel (contrast the normal demand curve)
The distance is so great that you wont go to that store therefore the demand is zero
Why is spatial demand curve more important in retail geo – test
Spatial Demand Curve
Consideration
o Type of good – convenience or shopping
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