WorksheetsTourism Economics - Final revision
Total questions: 42
Worksheet time: 42mins
Name
Class
Date
1.
Which of the followings are components of resources?
a)
Land, labor, capital, and entrepreneur
b)
Land, capital, and entrepreneur
c)
Land, labor, capital, and companies
2.
Which of the followings can be the question to be answered when making choices about resource use and allocation?
a)
What to produce?
b)
What to buy?
c)
What to sell?
3.
Which of the followings can best describe the shape of the Production possibility frontier?
a)
Concave
b)
Convex
c)
Parabol
4.
Which of the followings can be the correct definition of centrally planned economies?
a)
The economies that allow only state-owned firms who make production decisions.
b)
The economies that allow only private ownership of firms.
c)
The economies that allow both state-owned firms and private ownership of firms.
5.
Which of the followings can be the correct definition of Microeconomics?
a)
The study of behaviors made by individuals, households, and firms and it analyzes the interaction in particular markets to produce an equilibrium price and quantity sold.
b)
The study of the whole economy and it analyzes aggregates and economic cycles.
c)
The study of one extra unit.
6.
Which of the followings can best describe the firm's situation when MB < MC?
a)
Should not expand
b)
Reach equilibrium
c)
Increase profits
7.
Which of the followings can be the correct example of prestige goods?
a)
Luxurious hotel rooms at Phu Quoc
b)
Standard hotel rooms at Nha Trang
c)
Motel rooms at Da Nang
8.
Which of the followings can be the correct definition of demand?
a)
A schedule of the amount of any product or service that people are willing and able to buy at each specific price in a set of possible prices during some specified period of time.
b)
A schedule of the amount of any product or service that people are willing and able to sell at each specific price in a set of possible prices during some specified period of time.
c)
A schedule of the amount of any product or service that people are willing and able to buy at each specific price.
9.
Which of the followings can best describe the slope of demand curve for a prestige good?
a)
Upward
b)
Downward
c)
Vertical straight
10.
When there is an increase in young people who love Korean music, demand for Korean tour packages ______, and demand curve shifts ________.
a)
Increases; rightward
b)
Decreases; leftward
c)
Increases; leftward
11.
After the Covid-19, tourism is encouraged in Vietnam, making demand for tourism _________ and demand curve shifts ______.
a)
Increases; rightward
b)
Decreases; leftward
c)
Increases; leftward
12.
Vietjet Air and Bamboo Airway tickets are subtitute goods. When price of Vietjet Air tickets increases, demand for Vietjet Air tickets ____________ and demand for Bamboo Airway tickets _______.
a)
Decreases; Increases
b)
Decreases; Decreases
c)
Increases; Increases
13.
Which of the followings is the components of tourism supply?
a)
Supply of tour packages, tour components and a variety of tourism services
b)
Supply of tour components and a variety of tourism services
c)
Supply of tour packages, tour components and tour guide services
14.
Which of the followings can best describe the law of supply?
a)
When price increases, quantity supplied increases.
b)
When price decreases, quantity supplied increases.
c)
When price increases, quantity supplied remains unchanged.
15.
Which of the followings can best describe the shift of supply curve when supply decreases?
a)
Shift leftward
b)
Shift rightward
c)
Move upward
16.
When the price of hotel rooms increases, the supply of hotel rooms ________ and supply curve shifts _______.
a)
Increases; rightward
b)
Decreases; leftward
c)
Increases; lefttward
17.
When the labor costs in tourism industry decrease, the supply of tourism _________ and supply curve shifts ___________.
a)
Increases; rightward
b)
Decreases; leftward
c)
Increases; leftward
18.
When the rainy season starts in Phu Quoc, the supply of tourism services in this region __________ and supply curve shifts _________.
a)
Decreases; leftward
b)
Increases; rightward
c)
Increases; leftward
19.
Which of the followings can be the correct definition of equilibrium point?
a)
The price and quantity at which quantity demanded and quantity supplied are equal.
b)
The price and quantity at which quantity demanded is larger than quantity supplied.
c)
The price and quantity at which quantity demanded is smaller than quantity supplied.
20.
Which of the followings can be the correct supply function?
a)
Qs = c + dP (Q: quantity; P: price)
b)
Qs = c - dP (Q: quantity; P: price)
c)
Qs = dP - c (Q: quantity; P: price)
21.
Which of the following can best describe the new equilibrium price and quantity when demand increases and supply remains unchanged?
a)
Both new price and quantity increases.
b)
Both new price and quantity decreases.
c)
New price increases but new quantity decreases.
22.
Which of the followings can be the correct definition of shortage?
a)
Shortage happens when a quantity supplied that is smaller than the quantity demanded.
b)
Shortage happens when a quantity supplied that is larger than the quantity demanded.
c)
Shortage happens when a quantity supplied that is equal the quantity demanded.
23.
When demand for tourism decreases and supply for tourism remains unchanged, the new equilibrium price ___________ and new equilibrium quantity ___________.
a)
decreases; decreases
b)
increases; increases
c)
decreases; increases
24.
When supply for tourism decreases and demand for tourism remains unchanged, the new equilibrium price ___________ and new equilibrium quantity ___________.
a)
increases; decreases
b)
decreases; increases
c)
decreases; decreases
25.
Which of the followings can best define the term "tourism industries"?
a)
Activities that typically produce tourism characteristic products.
b)
Activities that are typically related to tourism.
c)
Activities that can typically meet customers' needs.
26.
Which of the followings is NOT an example of tourism business?
a)
A national park
b)
A shopping center
c)
A travel agency
27.
Which of the followings can be a characteristic of an airport hotel?
a)
Provide accommodation for aeroplan crews and transit passengers
b)
Provide specialized meeting, conference, and convention services
c)
Provide cooking facilities and other services appropriate for a long stay
28.
Which of the following types of tourists may prefer choosing convention hotels?
a)
Businesspeople wanting to hold annual meetings
b)
Tourists travelling by car
c)
Ecotourists wanting to visit the natural attractions
29.
Which of the followings can NOT be an economic cost of tourism?
a)
Labor costs
b)
Direct financial costs
c)
Competition with other sectors
30.
Which of the followings can be the reason why direct financial costs should be taken into consideration when doing tourism business?
a)
To avoid market failure
b)
To avoid tourist flows reduction
c)
To avoid recession in the market
31.
Which of the following factors should be considered in the competitive environment?
a)
The threat of entrants
b)
The threat of recession
c)
The threat of technological advancement
32.
Which of the following situations can be an example of anticipated entry wars?
a)
When Thanh Suong Seafood enters the market in Da Nang, it can offer food at lower prices compared to other seafood restaurants.
b)
When Thanh Suong Seafood enters the market in Da Nang, it tries to attract customers by placing advertisement on social networking sites.
c)
When Thanh Suong Seafood enters the market in Da Nang, it researches customers' needs carefully to make it own menu.
33.
In which of the following situations, the buyer power decreases?
a)
When there is booming time.
b)
When there is a recession.
c)
When the level of buyer knowledge increases.
34.
In which of the following situations, the degree of competitive rivalry can be considered as the lowest?
a)
There is a monopoly condition.
b)
There is perfect competition condition.
c)
There is an oligopoly condition.
35.
Which of the followings can best define "Demography"?
a)
The study of population
b)
The study of human characteristics
c)
The study of human's needs
36.
Which of the followings can be a source of information on changes in the political environment?
a)
Government reports
b)
Government policies
c)
Government expenditures
37.
Which of the followings can best define "Tourism investment"?
a)
Any investment that expands and upgrades the supply of domestic and international tourism products, services and experiences related to the tourism industry.
b)
Any investment that increase the demand of domestic and international tourism products, services and experiences related to the tourism industry.
c)
Any investment that maintain the supply of domestic and international tourism products, services and experiences related to the tourism industry.
38.
Which of the following categories can be considered as potential tourism investment?
a)
Short-term accommodation
b)
Long-term accommodation
c)
Short-term entertainment
39.
Which of the followings is an example of fixed capital good in tourism?
a)
Booking systems
b)
Human resources
c)
Raw materials
40.
Which of the followings can be considered as the main cost of a tourism investment?
a)
Cost of capital goods
b)
Cost of working capital
c)
Cost of labor
41.
Which of the following can be considered as running cost of the investment?
a)
Costs of operating the project
b)
Costs of buildings, plant and machinery
c)
Consultancy costs for technical feasibility
42.
Which of the followings can be a factor affecting revenue obtained from a tourism investment?
a)
Quantity of output sold
b)
Quantity of tourists
c)
Quantity of bookings
100 %
