____ Guides Are Web Sites That Provide Information on Hotels

question 31

Multiple Choice

____ guides are Web sites that provide information on hotels, restaurants, entertainment, cultural activities, and other things to do in a destination city.

• A) City
• B) Sentry
• C) Info
• D) Country

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Definitions:

Competitive Firm

A business entity in a market where it must take the prevailing market price as given, due to its inability to influence prices through its own actions.

Market Price

The present cost at which a product or service is available for purchase or sale in the market.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

State Licensing Fee

A mandatory charge paid to a state government for the issuance of a license to conduct a particular business or profession within that state's jurisdiction.