Bid-Rent Theory: Bid-rent theory explains how land value and rent prices decrease as distance from the CBD increases. This theory helps understand the spatial distribution of different land uses in cities.
Gentrification: Gentrification refers to the process of renovating and improving deteriorated urban neighborhoods, often resulting in an influx of wealthier residents and increased property values.
Redlining: Redlining is a discriminatory practice where banks or lending institutions deny or restrict financial services to certain neighborhoods based on their racial or ethnic composition.