Special Hotel Accounts for a Company That Has Established Credit

question 24

Multiple Choice

Special hotel accounts for a company that has established credit with a hotel are called:

• A)guest folio
• B)rack rates
• C)audit rates
• D)city ledger

Understand the income elasticity of demand and how it differs from price elasticity.

Learn to distinguish between short-run and long-run elasticities and their implications.

Understand how changes in supply affect market equilibrium and total expenditures.

Assess the implications of elasticity on taxation and government policy.

---

Definitions:

Barriers

Refer to obstacles that companies face when trying to enter a new market or industry, including technical challenges, regulatory hurdles, and high start-up costs.

Overcome

To successfully deal with or gain control of a problem or obstacle.

Communication Skills

The ability to convey or exchange information effectively through various means.

Managerial Success

Achieving organizational goals effectively and efficiently through planning, organizing, leading, and controlling resources.