Which of the Following Is the Primary Difference Between Club

question 32

Multiple Choice

Which of the following is the primary difference between club management and hotel management?

• A) Clubs are used more frequently than hotels.
• B) Hotels offer more services than clubs.
• C) Club members feel more ownership of the property than hotel guests.
• D) Hotels cost more to operate.

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Definitions:

Physical Capital

Assets used by a business to produce goods and services, such as buildings, machinery, and equipment.

Diminishing Returns

A principle stating that as investment in a single area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Marginal Product

The additional output generated by employing one more unit of a particular input, holding all other inputs constant.

Hiring Labor

The process of engaging individuals to perform services or work for compensation.