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Question 1:
Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the manager of a travel agent.
Question 2:
Using relevant examples to illustrate your arguments, analyze the different economic impacts of tourism and discuss the different ways in which government can maximize the economic benefits from the industry.
Question 3:
Using relevant examples to illustrate your arguments, analyze the different factors likely to influence the demand for tourism products.
Question 4:
Outline the short run and long run equilibrium of a monopoly market using examples from the tourism and/or hospitality sector to illustrate your arguments.
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
mancosa assignment
schedule and diagram of iso cost
Environmental pollution may be eloborate as the contamination of the environment, with harmful wastes arising mainly from human activities. All these activities release certain m
Question 1: Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient? Question 2: Prepare a short notes
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
WORLD TRADE ORGANISATION (WTO): The International Trade Organisation (ITO), originally, was proposed to be set up along with the World Bank and the IMF on the recommendations
Non-existence of Objective Probability Distributions : Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
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