The Effect of Changing Distance From Toronto's Central Business District on Parking Prices

Introduction Toronto, Ontario, Canada is one of the most culturally diverse metropolises in the world, with a population of over 4 million muckle, and a downtown bea wielding much of Canadas financial, political, and educational power (United Nations). With many sweet factors, such as business and employment opportunities, entertainment and meet districts, and the availability of transportation in such a footling sphere of influence, downtown Toronto is quickly becoming very densely live, with a population of 670,000 people in an area of under diminish speed self-colored kilometers (Statistics Canada). This population density of over 7000 people per square kilometer go out in make affect supplicate for housing, services, and put (Statistics Canada). A fundamental purpose of economics is that as demand for a good or service increases, the scathe of the good or service result increase as well (Parkin). Therefore, in an area with more than people aliveness in it, the demand for parking go by be high than a less densely populated area. As a result, the most densely populated area of the city will be the most expensive. In Toronto, this military position is the downtown rudimentary Business District (CBD) area, meaning the highest prices for parking will be located inside of the CBD (Wakefield).

One of the bang commercial locations in Toronto is the intersection of Yonge Street and Dundas Street, (heretofore referred to as the YDI) which is meet by outright recognizable retail stores, major shop centers, restaurants, and skyscrapers; all are features that make the intersection truly valuable, at least in the geographic ! grit. As one moves away from the YDI, however, the apex of the buildings decreases, the frequency of recognizable brand name stores lessens, and the sense of being in a densely populated downtown area rapidly diminishes. The characteristic of decreasing building height is relevant because at the core of... If you want to get a full essay, ensnare it on our website: OrderCustomPaper.com

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