Marketers Exploit the Physical Aspects of the Tourism Experience, Such

question 12

Multiple Choice

Marketers exploit the physical aspects of the tourism experience, such as light, music, scent, etc. to signify the quality and experience of the business prior to purchase and consumption. This reflects the following characteristic of tourism:

• A) perishable.
• B) inseparable.
• C) consistent.
• D) intangible.

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Definitions:

Inflation-adjusted Wages

Wages that have been modified to reflect the purchasing power after accounting for inflation, often to measure real income changes over time.

Labor Demand Curve

A graphical representation showing the quantity of labor that firms are willing to hire at different wage rates.

Labor Supply Curve

A graph showing the relationship between wages and the quantity of labor workers are willing to offer, usually portraying a positive correlation.

Backward Sloping

Describes a demand curve that defies the usual law of demand, showing less quantity purchased as the price decreases.