MATCHING Choose the Item in Column 2 That Best Matches

question 14

Multiple Choice

MATCHING. Choose the item in column 2 that best matches each item in column 1.
Match the term with the correct description.
-Import propensity

• A)The bed tax
• B)The measures that tells how sensitive demand is for one good or service to changes in the price of a related good or service
• C)The ripple effect
• D)A set of "accounting" rules to measure the economic contributions of tourism as an industry
• E)The state of pricing at which quantity demanded equals quantity supplied
• F)The cost of a resource is its value in its next best use
• G)The measures that tells how sensitive demand is to changes in income
• H)The total value of goods and services produced in a nation
• I)A variation pricing based on demand
• J)A leakage from a destination area

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Definitions:

Excise or Sales Taxes

Taxes imposed on the sale of specific goods and services, often included in the price paid by the consumer.

Tax Revenue

The revenue obtained by governments from taxes.

Economic Factors

Variables such as inflation, interest rates, economic growth, and unemployment that influence the performance of an economy.

Elasticity of Supply

The responsiveness of the quantity supplied of a good to a change in its price.