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Macro Midterm Quiz 1

Authored by CATHERINE PEÑAMANTE

Hospitality and Catering

University

20 Questions

Used 10+ times

Macro Midterm Quiz 1
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1.

FILL IN THE BLANK QUESTION

30 sec • 2 pts

What Sector is one of the largest components of the global economy?

2.

FILL IN THE BLANK QUESTION

30 sec • 2 pts

Tourism is ________ in the sense that an export product, it is not produced, packaged, shipped, received like the “hard” goods instead as intangible goods. 

3.

FILL IN THE BLANK QUESTION

30 sec • 2 pts

The demand for tourism and hospitality is __________ _________. This means that in some

of the months activity is great while in other months it is not.

4.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

It refers to the wages  and  earnings  of  those  who  participate directly  in  the  sector  as  workers  or  entrepreneurs  which  directly receives the actual payment or income from tourist expenditures.

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

It refers to the money received from the tourist expenditure will be used in turn to buy supplies such as raw materials, food, beverages, and materials for construction, transportation, and furniture and so on.  This is also know as the second effect.

6.

FILL IN THE BLANK QUESTION

30 sec • 2 pts

It refers to the value of goods and services that must be imported to service the needs of tourism and hospitality.

7.

FILL IN THE BLANK QUESTION

30 sec • 2 pts

The total direct and indirect effects of an infusion of an external source  of  income  into  an  area  are  termed _________.

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