Principles of Microeconomics Fifth Canadian Edition

Licensed to: iChapters User PRINCIPLES OF MICROECONOMICS: A G U I D E D T O U R PART ONE: INTRODUCTION Chapter 1 Chapter 2 Chapter 3 Ten Principles of Economics Thinking Like an Economist Interdependence and the Gains from Trade The study of economics is guided by a few big ideas. Economists view the world as both scientists and policymakers. The theory of comparative advantage explains how people benefit from economic interdependence. PART TWO: SUPPLY AND DEMAND I: HOW MARKETS WORK Chapter 4 The Market Forces of Supply and Demand Elasticity and Its Application Supply, Demand, and Government Policies How does the economy coordinate interdependent economic actors? Through the market forces of supply and demand. The†¦show more content†¦Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Licensed to: iChapters User This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Principles of Microeconomics, Fifth Canadian Edition by N. Gregory Mankiw, Ronald D. Kneebone, and Kenneth J. McKenzie Associate Vice President, Editorial Director: Evelyn Veitch Editor-in-Chief, Higher Education: Anne WilliamsShow MoreRelatedintermediate accounting 2 test bank Essay8318 Words   |  34 PagesAccounting Kieso 15th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! http://www.solutionsmanualtestbanks.com/2013/05/intermediate-acc ounting-kieso-15th-edition-test-bank.html Intermediate Intermediate Intermediate Intermediate Accounting Accounting Accounting Accounting Kieso Kieso Kieso Kieso 15th Edition Test Bank 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank ***THISRead MoreSolution Manual, Test Bank and Instructor Manuals34836 Words   |  140 PagesPowers (SM+TB) A Guide to Modern Econometrics, 4th Edition_Marno Verbeek (SM) A History of Modern Psychology, 10th Edition _ Duane P. 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From this, we can tell, using the principle of revealed preference that Joe must plan to keep his apartment at a temperature of less than 60 degrees. (c) Joe calls Mandy and tells her his decision. Mandy oï ¬â‚¬ers to pay half the service charge. Draw Joe’s budget line if he accepts Mandy’sRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesgave a number of provocative examples of the potential to operate internal markets that might achieve a range of objectives more eYciently than traditional management control approaches. His Wrst example involved an application of market trading principles to the problem, faced by British Petroleum plc (BP), of how to achieve a commitment to reducing its greenhouse gas emissions by 10 per cent. 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Essay on The Corruption of Media - 3049 Words

The Corruption of Media I came up with a problem that concerns many parents. It seems as though violence plays a role in the lives of many people. Even innocent children are affected by the negative things that go on in the huge world we live in. Television violence is often overlooked because of its ability to retain children’s attention. Countless mothers and fathers put their children in front of the television so they can have time to themselves. As a result, the kids are subjected to unnecessary media violence. I feel as thought this violence has a great effect on the children’s lives. The impact of television violence on youth behavior has been an issue for many years. Television stations and their executives tend to deny†¦show more content†¦LITERATURE REVIEW I We as Americans live in a nation where almost all households have at least one television set. Not only is the amount of television being viewed an issue but the content and the lack of parental overview also play an extreme role. In a year, the average child spends 900 hours in school and nearly 1,023 hours in front of a TV. According to the American Academy of Pediatrics (AAP), kids in the United States watch about 4 hours of TV a day - even though the AAP guidelines say children older than 2 should watch no more than 1 to 2 hours a day of quality programming. (Kids Health). What is even more astonishing that it is estimated that they will have witnessed 8,000 murders and more than 100,000 acts of violence by the time they leave elementary school. As technology improves and the amount of violent entertainment increases, images becoming more graphic and results in a more realistic portray of violence. Television viewing affects children of different ages in different ways. While children may spend many hours in front of a television set at an early age, the programming has little effect. At the age of two a child will imitate the actions of the live model, example a parent more than a model on television. However by the age of three the child will begin to imitate the TV. characters. The attitudes toward television drastically change over a childs life. When researching theShow MoreRelatedThe Corruption of Media690 Words   |  3 Pages The Corruption of Media I came up with a problem that concerns many parents. It seems as though violence plays a role in the lives of many people. Even innocent children are affected by the negative things that go on in the huge world we live in. Television violence is often overlooked because of its ability to retain children’s attention. Countless mothers and fathers put their children in front of the television so they can have time to themselves. As a result, the kids are subjected to unnecessaryRead MoreMedia Reports on Corruption1883 Words   |  8 PagesIntroduction Media reports on corruption are frequent, some are reported in print form, others are conveyed via news anchor reports, and still others are described through online blitzes. Whatever the form, corruption has become a common topic of news reports. Being such a common topic, it would be logical to presume that corruption has a global definition that crosses not only cultural lines, but also the boundaries of societies’ sectors. Although Calhoun (2011) defines corruption as actions takenRead MoreSocial Media Is Bad For The Teenager Aspect Of Life By Causing World Corruption1549 Words   |  7 PagesSocial media is bad for the teenager aspect of life by causing world corruption in many ways. Social media can change and become cyberbullying, social outcasting, lack of communication skills, and most of all, not being able to find whom you can become. 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But when you are in trouble, well, we just can t afford to help you, if you are in the workingRead MoreMedia Institutions on the 2014 Indian General Elections745 Words   |  3 Pagesbasically include s persuasion tactics, rallies, promises all of which in our country as I would call it is ‘fake’. The entire country knows and believes that as soon as the word of politics is taken, corruption would be the first word following it. Many TV channels, new agencies and other forms of mass media have their learning’s backed by these political parties. It is not about a political bias, it is merely biased towards the party which supports it financially. These political parties financiallyRead Moreyears and years the world has been blinded by the evils in society. There are three main matters1100 Words   |  5 PagesThere are three main matters that shade us from the truth every day. These are corruption/greed, media takeover, and ignorance. Corruption is one of the worst evils to enter society; it has seemed to become a type of faith on its own. The way it is evil is that corruption has blinded society by the way we think and act, it allows people in society to think that doing evil things is an ok thing to do. The reason corruption has changed the way society thinks is, when we hear that it has not only ledRead MorePolice Officer And The Criminal Justice System Essay960 Words   |  4 Pagesoverall abusing their powers. What is corruption? Corruption. What is corruption? Corruption is dishonest or illegal behavior by powerful people, such as government officials or police officers. The dishonesty is generally used for personal gain, in which the person is misusing his or her power to obtain these benefits. Most people are guilty of corruption in one way or another. It comes in many forms. Some worse than others. 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Essay prompt free essay sample

The first attempt at creating colonial unity was made by Benjamin Franklin In 1754, after the start of the French and Indian War. This was called the Albany Plan. The Albany Plan called for an international government with the right to tax, pass laws, and supervise military defense. Seven of thirteen colonies were represented. To further his cause, Franklin published a cartoon In the Pennsylvania Gazette. The cartoon showed eight disjointed pieces of a snake, each labeled with a colony. The phrase Join, or Die was written at the bottom, illustrating the fate of the colonies if hey failed to unite against the French and Indian threat.The colonies felt it did not give them enough Independence, and as a result the Albany Plan was not approved by any of the colonies, demonstrating the lack of colonial unity at this time. During the French and Indian War, British General Loud often asked the colonies for troops and money to support the war effort. We will write a custom essay sample on Essay prompt or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The colonial response was sporadic and uncoordinated because they were not yet unified. The Stamp Act of 1765 sparked colonial outrage because it was the first direct tax on he colonies for the purpose of raising revenue.Patrick Henry passed a resolution protesting all taxes, and seven other colonies would pass similar resolutions. The Stamp Act Congress was called in 1765 to protest the Stamp Act. Leaders from nine of the thirteen colonies were represented. This meeting brought an end to most colonial distrust. The colonies no longer viewed each other as rivals, but allies. After the failure of the Stamp Act, Parliament debated how America should be governed. Edmund Burke, who often supported America, scoffed at the proposal of overdoing America like an English town which happens not to be represented in Parliament. He goes on to say that nature will not allow America to be lumped Into the Mass of Great Britain. Here, he indicates that the Americans have gained an 1 OFF However, there was still a lack of unity in the Southern colonies at this time. The Carolina Regulators wreaked havoc in North and South Carolina, which showed the beginning of a conflict between western frontiersmen and the eastern colonial elite that would last until after the Revolution. The Regulators were western Carolina rammers rebelling against the oppression of the eastern aristocracy.A series of letters published by John Dickinson entitled Letters from a Farmer in Pennsylvania inspired opposition to the Townsend Acts of 1767, and were reprinted in all 13 colonies. These letters helped spur unified resistance to the Townsend Acts in the form of non-importation agreements, more commonly known as boycotts. In response to the Dickinson letters, the circular letter was written by Samuel Adams in Massachusetts. It also called for unified resistance to the Townsend Acts, and was significant because it showed that the New England colonies were at least somewhat unified with the Middle colonies on this issue.In 1772, the Gasped, a British ship, was harassing colonial merchant ships and enforcing the Sugar Act of 1764. Outraged colonists burned the ship, and were sent to England to be tried, where they were sure to receive a much harsher punishment than they would in the Americas. This undermined colonial attempts at self- government, and thus damaged the unity of the colonies. Samuel Adams founded the first Committee of Correspondence in Boston in 1772. All 3 colonies had these committees. They functioned like newspapers, and were sent to all the colonies.Prior to the First Continental Congress, Richard Henry Lee wrote a letter to Arthur Lee stating that the colonies were almost completely unified against the oppression of the British Ministry. He goes on to say that the colonies are most firmly united and as firmly resolved to defend their liberties. He was incorrect in his assumption. Statistics would later show that, at the time of the Revolution, only a third of Americans were patriots, while a third was neutral, and the other third remained loyal to Britain.The famous Tory preacher Matter Bales represented the Loyalist side of the story. He asked, Which is better, to be ruled by one tyrant 3000 miles away, or by 3000 tyrants not a mile away? Feel-good history allows people to believe that all the colonists were patriots, but this is simply not true. Some historians even say that the patriots were only a tiny minority of eastern merchants who duped poor western farmers into fighting for the merchants cause. In this sense, there was never colonial unity until the U. S. Constitution.Boston as a result of the Boston Port Act of 1774, which was a result of the Boston Tea Party in 1773. From Connecticut down to South Carolina, the colonies sent supplies or money to sustain the Boston economy while the port of Boston was officially closed. This showed that the rebellion was not Just in the north, but all down the coast as well. The First Continental Congress was called in 1774 in response to the Intolerable Acts. The only colony not represented was Georgia, because it still felt somewhat disjointed from the rest of the colonies. Committees of Safety were created as part of he Congress.They were continental assemblies for the purpose of enforcing the boycott of British goods and publicizing the names of those who violated the boycott. These were big steps in colonial unity, though it was not yet achieved. During this time, the Americans, as a result of their constantly diversifying European, Indian, and African heritage, were splitting farther and farther from Britain and developing an identity all their own. In his Letters from an American Farmer, Hector SST. John Occurred writes that Americans are a strange mixture of blood which you will find in no other country.In 1775, the Second Continental Congress met in Philadelphia. All 13 colonies were represented. They met mainly to make preparations for war with Britain, but they did not meet to declare independence. Even this late, they did not intend to seek independence until Britain essentially forced them to do so through the Prohibitory Act. George Washington was appointed Commander-in-chief of the Army. Despite the apparent success of the Second Continental Congress in unifying the colonies, it was relatively ineffective, and the colonies were still not completely unified at the time of the Revolution.

Urban Gentrification and Urban Morphology Essay Example

Urban Gentrification and Urban Morphology Paper Urban Gentrification and Urban Morphology The term ‘gentrification’ has myriads of interpretations from different geographers, and sociologists. Ever since, there has been protracted debate on its methodology, consequences and whether it constitutes a dominant or residual urban form. The term ‘gentrification’ was first coined by the Marxist urban geographer Ruth Glass (Glass, 1964) to describe the influx of wealthier individuals into cities or neighbourhoods who replace working or lower-classes already living there by using London districts such as Islington as her example. On the other hand, Smith and Williams (1986, p. 1) define gentrification as â€Å"the rehabilitation of working class and derelict housing and the consequent transformation of an area into a middle-class neighbourhood. † Whilst Hamnett (2003, p. 402) builds on Glass’s definition of gentrification as a process involving class connotations and offers a more comprehensive definition incorporating economic views when he defines gentrification as a â€Å"social and spatial manifestation of the transition from industrial to a post industrial urban economy based on financial, business and creative services, with associated changed in the nature and location of work, in occ upational class structure, earnings and incomes, life styles and the structure of the housing market†. We will write a custom essay sample on Urban Gentrification and Urban Morphology specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Urban Gentrification and Urban Morphology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Urban Gentrification and Urban Morphology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Smith (1987) supply side (which focuses on investments within urban structure) and offers his ‘rent-gap’ theory of gentrification whereas proponents of the Feminist perspective consider the notion of patriarchy, changing gender relations and feminisation of labour markets. (Dutton, 1998, p. 32) Therefore, with the myriads of interpretations by various authors (simultaneously enlarging the gentrification literature), it is evident that gentrification means differently to individuals depending on which school of though one ascribes to. Curran (2008, p. 37) correctly points out the sentiments of this author that vast literature on gentrification presents the challenge for students to â€Å"figure out who are the true giants in the field†. Dutton (1998, p. 32) is right when he said that gentrification has become a â€Å"contested boundary zone between radically different theories and explanations†. This essay began by explaining the different definitions of the term ‘gentrification’ by different theorists and identifying the various analysis of gentrification. It also attempts to outline the consequences of the emergence of gentrification. Finally, using the various examples, it also attempts to utline the correlation of gentrification and urban morphology. There are two distinctive theories explaining and justifying gentrification as an economic process and social process that transpires when the young middle-class are tired of the commuting and their dependency of the city lifestyle. Thus, young professionals from the capital moved to the poorer communities with startling period houses in convenient locations that are in need of restoration. As explained by Smith, (1987, cited in Bridge, p. 237-238) gentrification is an economic process resulting from the relationships among capital investments and the production of urban space. The gentrifiers maybe most attracted by the ‘rent gap’, i. e. the difference between ground-rent levels at various locations in a metropolitan area (Smith, 1979 cited in Zukin, 1987, p. 137). The low rents in the suburban encouraged continuous development of housing capital for the development of suburban areas and the expenditure of city money on suburban areas. Consequently, it provoked the economic abandonment of the city in favour of upcoming or new properties outside the city which cause the price of inner-city land decreased dramatically comparing to the gentrified area. The revalorization takes the form of gentrification of already existing neighbourhoods (as opposed to redevelopment or commercial development) it results in the spatial displacement of labour. (Bridge, 1987, p. 238) The revalorization of the inner city is employed to close the rent gap utilising the real estate capitalists’ profit boosting intention. When the gap is sufficiently wide, inner-city properties will be reinvested and redeveloped for new tenants in closing the rent-gap, leading to higher rents, mortgages, and lease rates affordable by the new tenants, but not by the original lower income tenants. Bridge, 1987, p. 239) In an alternate view, the landlord can be driving force too in influencing the process of change. Beauregard, (1981, cited in Smith and Williams, 1986, p. 52) points out that â€Å"landlords, developers and real-estate agents, both large and small, play an important role in ‘steering’ the potential gentry to a neighbourhood, buying proper ty and speculating, and preparation for sale or for complete rehabilitation. † It can also be argued that drawing on economic analysis in connection with economic concepts of gentrification (e. . housing price increment, interest rates, lending willingness and expansion of labour market) is a more holistic approach to understanding changes in urban Britain. Economists consider the cause-effect relationship between the economies and how each economic agent interacts (e. g. money and financial markets, demand and output, cost and prices). Robert Wiedemer (2009, in an interview with journalist Seidenberg) said â€Å"the stock market, housing sector and the dollar are all interrelated and helped build the other and the economy. In another word, even the demand of residences may increase, gentrification would not be possible without financial aid from financial constitutions. This is purported by Beauregard, (1981, cited in Smith, 1986, p. 53) â€Å"property interests, nonetheles s cannot operate without the assistance of financial entities able to lend large sums of capital. † The Bank of England website too supports, â€Å"the different aspects of economy are not independent of each other. Everything is inter-related. The critique from this tool of analysis is again the challenge of information overload from looking at each single factor affecting gentrification therefore making it more complex to conceptualise gentrification. Also, the limitation of research funding can affect the quality, accuracy and credibility of academic’s findings, speed to publication and research methodology problems. Hence, the potential resulting in bias research findings, if used by local government when intervening in determining housing policies in gentrifying stagnant towns and cities may be wrongly misguided. The analysis of economic driven gentrification is clearly illustrated in London beginning from the 1950s. This process began in the Canonbury area of Islington; spread to Barnsbury and other parts of Islington, as well as Camden, Notting Hill, Primrose Hill, Kentish Town, Holland Park, and West Greenwich in the 1960s; and reached as far as Hackney in East London and parts of South London like Lambeth, Battersea, Clapham, and Fulham in the 1970s. (Moran, 2007, p. 01) Before the 1950s, the North London Borough of Islington was at a broken area, its once grand Regency and Victorian houses split into poorly maintained, multi-occupation tenements. As gentrification began from 1960s onwards, middle-class newcomers started buying up slum properties and ex-rooming houses and transformed them into appealing residences. (Moran, 2007, p. 102) The transformation was vast and it was described as major restoration of grand architecture values of the Georgian places and the rebuilt houses stand out â€Å"like good teeth among bad†. Pitt, 1977, p. 7 cited in Moran, 2007, p. 103) The houses were architecturally salvaged to the middle-class designs that were comparatively of high standard in highlighting modernism and freedom. The middle-class homeowners were the major force behind the amenity societies, sponsored by the Civic Trust, which proliferated in urban areas in the 1960s. For example, the Barnsbury Association, formed by middle-class Islingtonites in 1964, used professional planners to formulate its manifestos and forged valuable links with the local council. They persuaded the council to pay for changes in their neighbourhood including tree-planting, restoring cast-iron streetlamps and railings granite setts to give the roads a cobblestone look, implementation of a traffic scheme that closed off a middle-class neighborhood to through-traffic and redirected cars along streets full of working-class tenement blocks. Alongside other gentrifies, they campaigned against replacement of old terraced houses and squares with new housing scheme. (Moran, 2007, p. 103-105) It was morphology of urbanisation when the gentrifiers revolutinised their residences and demanded a system to achieve their requirement. There is another analysis of gentrification that is influenced by economic paradigms that accentuating on production, taking into account social reproduction and consumption. Ley’s theory suggested that transition in economics, politics and culture instigated urban gentrification. (Hamnett, 1991, p. 176) With modernisation up-scaling, there is a major focus economic shift since 1960s, of recentralising or corporate investment in selected metropolitan cores. (Fainstein Fainstein, 1982, Smith 1986 cited in Zukin, 1987, p. 38) Deindustrialisation of a city reduces the number of blue-collar occupation available to the urban working class and is fundamental to the escalation of a divided white-collar employment tertiary sector of industry – focusing on professional and managerial positions that follow the spatial integration of the capital. Headquarters and ‘back offices’ no longer share space; each stratum of white-collar work generates in its proximity the am enities that suit its status, salary levels, and office rents. Industrialisation and blue-collar residences are displaced beyond the heart of the city. (Zukin, 1982 cited in Zukin, 1987, p. 39) Ley linked this to the shift from a goods-producing to a service-producing society, and to the decline of manufacturing industry and the rise of office work. (Hamnett, 1991, p. 176) The second proposition of Ley was that post-industrial society is distinguished from industrial society by the active role of government. Consequently, Ley (1980, p. 241 cited in Hamnett, 1991, p. 176) argued that â€Å"decision making and allocation of resources is now referred to the political arena and not only to the market place†¦ The politicization of varied interest groups is challenging the formerly hold of business lobby on political decision making. Governments are creating manifesto to help stabilising the economy which inevitably causes gentrification. For example, in Shanghai when Chinese govern ment is developing housing which is directly connected to the fundamental processes of urban economic, political and geographic restructuring. Residential reorganisation, which promoted housing commoditisation and promotion of home ownership, has significantly inspired the development of a real estate market, consequently altering the primary forces of urbanisation and prompted modern precedent of neighbourhood. Against the backdrop of market transition, the Shanghai local state engages an active role in commencing and assisting the gentrification process. They are motivated by the state’s decentralizing policy in fiscal and administration system to offer an important role to local state in urban morphology and economic growth. Moreover, the free market enables the local authorities to pursue of rapid economic expansion and revenue boost. (He, 2007, p. 174-176) This is exemplary of Bailey and Robertson (1997, p. 63) in their research pointing out the importance of the â€Å"role of the state, particularly the impact the state can have in shaping or redirecting the process of change. † Finally, Ley (1980, p. 241 cited in Hamnett, 1991, p. 176) contended that the reassertion of individualism and the growth of a more sensuous and aesthetic philosophy is growing among the middle class, particularly on the American West coast. This further piloted to another factor of gentrification , focusing on the post-industrialised world creating a livable city. Ley (1980, p. 239 cited in Hamnett, 1991, p. 76) argued that there is a new ideology of urban development, an â€Å"urban strategy seemed to be passing from an emphasis on growth to a concern with a quality of life; the new liberalism was to be recognised less by its production schedules than by its consumption styles. † People are demanding for more facilities, for greater beauty and a better quality of life in the arrangement of our cities. This progressivism has made way for commercial exploitation of urban lifestyle. In May 1964, Terence Conran opened the first Habitat; that branched out into the entire United Kingdom. Moran, 2007, p. 108) In London as elsewhere, gentrifiers often differentiate themselves as people who make different choices in life. Amplifying individualism notion, they want to be unique, edgy, cosmopolitan alternative to supposed conventionality and homogeneity of the suburbs. Habitat exploited this ethos, promoting itself as classless and egalitarian that was completely anti-suburban, Conran tied this lifestyle revolution to a general atmosphere of societal attitude advancement and ethical consumerism reflecting its middle-class ambiance. (Moran, 2007, p. 08-110) It was altogether a new phenomenon as this perception contrasts their previous trend and residential choice were in the less traditional area with potentially profound impacts for the deprived and lower paid households in such areas. It is normally associated with less affluent, often working class, inner-city communities which are transformed into more affluent, middle or upper class, communities by the upgrading and modernisation of buildings, resulting in increased land values and the removal of less affluent residents. (Atkinson, 2002, p. ) However, according to the Real Estate Board of New York Inc. , (New York Times,1985 cited in Smith, 1996, p. 30), â€Å"We believe that whatever displacement ge ntrification causes, though must be dealt with public policies that promote low and moderate income housing construction and rehabilitation and in zoning revisions that permit retail uses in less expensive, side street locations. We also believe that New York’s best hope lies with the families, businesses and lending institutions willing to commit themselves for the long haul to the neighbourhoods that need them. That’s gentrification. † Is this mission statement completely classless? Theoretically, using the media for the benefit for public but in reality, possibly the middle class reaches the source. A more cynical interpretation of this advertisement can be said that the advertisers were hired by those indirectly or directly benefiting from gentrification to justify their actions. Their creative advertising language is used to paint positive and downplay the negative connotations associated with emotional word, gentrification. A few considerations are worth noting here. Is there anything wrong with upgrading a residential area by meeting the demand? To one person, it means improved housing, safer streets and new retail businesses. To another, it means unaffordable housing and regimenting of a diverse neighbourhood. In other terms, gentrification is the upgrading of housing and retail business in a neighbourhood with an insertion of private investments. This process and its consequences however are complex. Conclusively, gentrification is a process of physical, social, economic and cultural changes in inner-city communities resulting from the influx of new people. Slater (2004) comments that gentrification is a highly complex issue that is very difficult to define precisely. It is observed that middle class gentrifiers are part of a much larger picture but limitations in gentrification research methodology interestingly points out that that gentrifiers are easier to find and interview than other agents of gentrification. Displaced residences are somewhat ‘unreachable’ especially those at risk of being displaced. (Slater, 2004, p. 1142 and Smith, 1986, p. 3) The theories developed above were able to shed some light on the root of gentrification but yet, they merely examine the first fold of the broad issue, i,e, why has it happened? In my opinion, gentrification is somewhat like the chain of demand and supply and it is seldom balance. It exists as an essence in the equilibrium of society facilitating the economic, political and societal growth. The need to create the market for demand, then supplying the demand and it runs in a cir cle that never ends, gentrification.