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Question 1:
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 2:
Define the concept of tourism demand and analyze the different economic factors likely to influence the demand for tourism products.
Question 3:
"The economic benefits many African countries derive from international wildlife tourism are very few, especially when viewed from existing potentials in terms of resources and uniqueness. African wildlife tourism has natural barriers to entry and thus is basically a monopolistic market"
Outline the characteristics of a monopoly market and distinguish between its short run and long run equilibrium. Use relevant examples from the tourism and/or hospitality industry to support your arguments.
What is the difference between MRTS & MRS?
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
illustrate and explain the changing demand for big mac using the indifference curve and budget line
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
maximum profits will occur at the output level
What is affected variable and cause variable? In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe
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
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
What are the causes of inflation? Define inflation as a steady enhance in the general price level. Then, there are, well, two and a half basic reasons: 1) Demand-pull infla
What is Economic Depreciation?
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