Intro to hosp.

What is economics?

• is the social science that seeks to understand the

  choices people make in using maximum resources to meet

  their wants

• is the social science that seeks to understand the

  choices people make in using their scarce resources to meet

  their wants

• is the social science that seeks to not understand the

  choices people make in using their scarce resources to meet

  their wants

• None of the above

Which of the following resources does not relate to the tourist?

• Money

• Available time

• Physical energy/capacity

• Human Resources

Which of the following resources does not relate to that of the destination?

• Time and money

• Availability and variety of natural resources

• Financial resources

• Human resources

Tourism can be said to have a comparative advantage over other industries if?

• the destination has features that are highly attractive

• the destination is highly inaccessible

• the destination has a large labour force (human capital)

• the destination’s foreign exchange is favorable

Which is true about GDP?

• It is the monetary value of all finished goods and services made within a country at a given period.

• It provides an economic snapshot of a country

• GDP can be calculated in only two (2) ways which is expenditure and production.

• It is a key tool that guides policymakers and investors

The ______________ Effect describes the process when money

is added to an area by someone from outside its

borders.

• Induced

• Indirect

• Multiplier

• Direct

Which of the following is not one of the three (3) levels of impacts created by tourism purchace

• Indirect

• Induced

• Economic

• Direct

Ashante uses money from her restaurant sale to purchase meat and vegetables to supply tourist. What type of tourism contribution is this?

• Direct

• Indirect

• Induced

• Economic

Nicole and her family visiting from the U.S went to Rajiv's bar and grill and purchased meals. What type of contribution is this?

• Direct

• Economic

• Induced

• Indirect

Breanna who works at Magdalena grand Resort receives her salary and purchased a Michael Kors handbag. What type of tourism contribution is this?

• Direct

• Indirect

• Economic

• Induced