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INFORMATION GENERATION PROCESS:
Information is the product of different human activities and events. Activities are undertaken by individuals or by organisations in pursuance of certain objectives. Events are things that happen, occur or take place. If there has been no activity or an event taking place, there would be no information. Imagine a situation when, on a day, the entire population of the world goes into a slumber. Next day, there would be no news (although subsequently this would be news which would hit newspaper headlines).
Question 1: (i) Explain why it is not normally advisable to use the cost plus method in the pricing of rooms for first class hotels. (ii) Mention and explain four types of
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