Interdependency Between Various Segments of the Hospitality Industry Means That

question 26

Multiple Choice

Interdependency between various segments of the hospitality industry means that

• A) each segment, to an extent, depends on another for business
• B) all segments are very independent and do not rely on one another at all
• C) when airlines lower fares, tourism slows
• D) tourism has little effect on other segments of the industry

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Definitions:

Simple Contract

A contract that is not formalized in writing but is made orally or by conduct, requiring only mutual agreement and consideration to be valid.

Security Interest

A legal claim or lien on collateral that secures the payment or performance of an obligation.

Secured Transactions

Financial transactions in which the borrower pledges collateral to ensure repayment of a loan.

Credit

A financial term denoting an arrangement where goods, services, or money is received with the promise of future payment.