Product Costs Are the Most Important Thing to Take into Account

question 23

True/False

Product costs are the most important thing to take into account when pricing the hospitality product.

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Definitions:

Classes

Social categories reflecting differences in economic status, lifestyle, education, and occupational prestige among various groups within a society.

Apartheid System

A policy or system of segregation or discrimination on grounds of race, specifically referring to the former socio-political system in South Africa.

Social Stratification

The arrangement or classification of society into hierarchical layers based on socioeconomic factors like wealth, income, race, education, and power.

Income Inequality

The unequal distribution of income among individuals or households within a particular society or area.