A Condition Necessary for Successful Tourism Development Would Be That

question 2

Multiple Choice

A condition necessary for successful tourism development would be that __________________.

• A) destinations need to be accessible to travellers
• B) the various sectors of the tourism industry need to be perceived as safe
• C) potential tourists need to have both discretionary time and money
• D) All of the above.

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Definitions:

Economic Efficiency

A situation where all resources in an economy are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Game Theory

A mathematical and logical model used to analyze strategies in competitive situations where the outcome depends critically on the actions of all participants.

High-Price Policy

A strategy where a firm sets the prices of its products or services higher than its competitors, often to signal higher quality or to cover higher costs.

Nonprice Competition

Competition based on distinguishing one’s product by means of product differentiation and then advertising the distinguished product to consumers.