Population A Vital Indicator of Economic Growth Essay

Economic growth in a city, state, or country is characterized by steady growth in the productive capacity of the economy or a growth of national income (Fernandez- Villaverde, 2001). The Gross Domestic Product (GDP) growth rate is most commonly used to measure economic growth because it is a reflection of the total change in a country’s national output (Filardo, 1999). This growth rate is used to predict the direction of an economy. A positive growth rate indicates a positive economy with more jobs, consumption and income while a negative growth indicates an economic decline (Filardo, 1999). Economic growth constitutes superior productivity, prosperity, and increased capital per capita resulting in a higher quality of living.†¦show more content†¦Land use is highly dependent upon the social interactions and demographics of the surrounding population. For a city to be considered â€Å"sustainable†, it must be an environment suitable for efficient public tran sport and social interaction within the surrounding population (Jenks, 1996). The demand for different types of land use is based on population and economic developments shape, whereas the allocation of land use change is determined by regional and local conditions. One important approach to micro-level perspective modeling is multi-agent simulation. Multi-agent models are part of distributed artificial intelligence methods (Verburg et al., 2004). An agent is an entity that is able to act on itself within a given environment and communicate with other agents and whose knowledge and behaviors are a result of its observations (Sanders, Pumain, Mathian, Guerin-Pace, Bura, 1997). Multi-agent models can clarify the degree to which system-level properties emerge from local evolutionary forces and the impact those local processes have on the continued functioning of the multi-agent universe (Levin, 1998). While the simulated behavior at the aggregate levels aids in the development of new theories connecting individual behavior to collective behavior, the model is not very useful outside of the micro-level. The model is limited to applications that areShow MoreRelatedMarket Potential Indicator and Its Components: International Market Analysis649 Word s   |  3 Pagescomputers will be analyzed with respect to the indicators of MPI. Lastly, the paper will evaluate which countries would be an ideal market for such a company. MPI has been formulated after considering a number of indicators and is used to compare emerging markets with one another. 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