Thank you for bringing up the subject JessicaMichael.

I'm not an expert on this, so correct me if I'm wrong. This is only what I have found to increase my own knowledge.It will make a new visit to Cheapside much more interesting.

The name Cheapside is misleading. Perhaps it was right one time in the past when there was an area simply called Cheap.
It is and was both the name of a sreet and and a part of London stretching roughly from St Paul's Cathedral east half a mile towards Bank of England. And it was very much a trading and commercial center of London.
Probably one of the busiest part of London, with traders, merchants, shops, markets, manufacturers and workshops, (such as for instance Mr Chippendale's or Longman & Broderip,Musical instrument builders).
There were more elegant shopping areas in west London but you could probably buy sheaper here.

But no less important, this was the seat for the Lord Mayor of London.
at Guildhall and his residence Mansion House. And of course there was the Bank of England and the Royal Exchange. And also other trades or professions houses such as Goldsmiths Hall and Mercers Hall etc.

This was also Cockney London. In the middle stood the church St Mary LeBow, and it's said that if you were born within hearing distance of the Bow bells you were a true cockney. Further east of this area was East End and the Docks. (Note that an Eastender and a Cockney isn't the same thing,even if you could be both).
Jane Austen would probably have found it difficult to understand what the people at the markets were saying if she had gone there.

Leif G-n