Uploaded on 2016-11-23 by Michael Basckin

In my city, an urban information-based city, the three most important stocks and flows are 1. Information 2. Capital/Finance 3. Food 1 - Information: As the city of Sydney is mainly a service-based economy, information is the most valuable resource available to businesses and workers. This information flows over time through many outlets. Information can arrive through international media outlet such as television, the internet, or physical books and magazines etc. Another flow of information may come locally, from research or primary sources of information. This information is then either stored as 'stock' in a library or digitally on a database or published. It may also be distributed around the city or out of the city as services 'export' the information for economic benefit. 2 - Capital/Finance: As a globalised city, Sydney is an international hub for the flows of finances. Whether through tourism or international business dealings, money flows into the city and out of it constantly at all times. 3 - Food: Since Sydney is an urban area, the main sources of food are produced outside of the city in farms or other rural areas. This produce flows into the city to provide for the citizens. Question 3: Changes to stocks and flows for the benefit of the area Stocks and flows change over time for many reasons. These reasons may include the introduction of new technology, changes to the availability of particular stocks/flows and/or improved efficiencies. These three examples will be briefly discussed below. 1. New technology: As technology changes, the ability to import/export or produce new stocks/flows similarly will change. For example, a new method/technology in irrigation of farming may lead to an increase of corn production that year. This in turn would lead to more supply of corn in an area and would subsequently change the stocks/flows of corn in that area. 2. Availability of stocks/flows: The availability of stocks and flows can change for a number of reasons. These may be an increase in availability (such as the example above with increased supply of corn) or a decrease in availability (For example a natural disaster which wipes out corn production in a given year). Any change in availability will change the stock/flow of that particular resource 3. Improved efficiency: By improving efficiencies, through technological change or improvements to flow networks (for example installing a new railway route/roads, the stocks/flows of an area will improve in a proportional manner.