Study of Tourism‚ Hospitality and Event Nowadays‚ with the rapid development of economy‚ tourism‚ hospitality and event industries are faced with more opportunities‚ but more challenges as well‚ such as the more competitive market and similar industries‚ personalized customer demands and higher service qualities requirements and so on. Therefore‚ studying and understanding the three industries‚ discovering the interrelated nature of them and the way they promote each other will contribute to promoting
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Assignment Business and Managerial Economics Teacher: Ellie Semsar Student Name: Robiul Islam Student ID: B0261DADA0410 Personal computers are very imperative in the current world of nowadays. Today‚ PCs hold fabulous consequence. Several numbers of us will be thrilled without a computer‚ as it becomes a part and parcel of our daily life. Computer becomes a significant tool for keeping archives. For computer data analysis become tremendously easy and we can do it now
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demanded for those products. 4) Demand for cocaine is highly inelastic and presents problems for law enforcement. Stricter enforcement reduces supply‚ raises prices and revenues for sellers‚ and provides more incentives for sellers to remain in business. Crime may also increase as buyers have to find more money to buy their drugs. 5) The concept of elasticity of demand is made practical use of by the Finance Minister and the monopolist. When the Government imposes a tax on a commodity‚ its
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Mix. The First National Bank received 3‚000 inquiries following the latest advertisement describing its 30-month IRA accounts in the Boston World‚ a local newspaper. The most recent ad in a similar advertising campaign in Massachusetts Business‚ a regional business magazine‚ generated 1‚000 inquiries. Each newspaper ad costs $500‚ whereas each magazine ad costs $125. A. Assuming that additional ads would generate similar response rates‚ is the bank running an optimal mix of newspaper and magazine
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Overview of the Hospitality and Tourism Industry Introduction to Hospitality – HTM100 In the following paper‚ I will determine the challenges involved in managing restaurant operations that are specific to my state‚ as well as how I would address those challenges. Secondly‚ I will determine the impact of computerization on food service and lodging operations in my state. Next‚ I will analyze the interdependence of food service‚ lodging‚ and meeting segments of the hospitality industry and
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6 Which concept—the business profit concept or the economic profit concept—provides the more appropriate basis for evaluating business operations? Why? Businesses i know are there to maximize profit and minimize cost.On this basis‚i think the business profit concept is the most appropriate basis for evaluating business operations because banks‚lenders or creditors will the creditworthiness of such business if loan or any other facility has been advanced to such business to see whether they can
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associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon. Ans: Inflation: In economics‚ inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It can be defined as too much money chasing too few goods. When the general price level rises‚ each unit of currency buys fewer
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where they live; and consumers typically have a very limited set of goods to choose from. As a result‚ many of the tools and concepts of microeconomics are of limited relevance in those countries. •macroeconomics Branch of economics that deals with aggregate economic variables‚ such as the level and growth rate of national output‚ inter· est rates‚ unemployment‚ and inflation. Trade-Offs In modern market economies‚ consumers‚ workers‚ and firms have much more flexibilityand choicewhen
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trends of tourism and hospitality Nowadays‚ people more than ever travel freely around the world. The international tourist arrivals from 674 million in 2000‚ reached the 797 in 2005 and the 940 million in 2010. Respectively‚ the international tourism receipts from 475 billion US dollars in 2000‚ reached the 679 billion in 2005 and the 918 billion. The tourism and hospitality industry is among the most diverse of all industries in terms of employee population and groups of guests. Hospitality and tourism
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Review of related literature According to Pizam’s article (1982)‚ the tourism and hospitality industry has been applauded by industrialized and developing countries for the number of jobs created. A large amount of position vacancy is generated within the tourism industry and the supported industries. As a labor-intensive industry‚ its contribution to employment is not only restricted to the area or country but it also provides those jobs to women‚ youngsters‚ unskilled‚ minorities and the socially
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