In the Movement from a "Service to an Experience Economy

question 11

Multiple Choice

In the movement from a "service to an experience economy" within tourism, which of the following implications is the most important?

• A) In such an economy, it will be important to ensure that tourists are provided with consumer protection legislation that guarantees they recover what they have paid for.
• B) In such an economy, consumers are seeking a quality experience from an investment of their time and money.
• C) In such an economy, there is a changing relationship between hosts and guests. People are seeking genuine experiences rather than staged ones.
• D) In such an economy, because people will have great difficulty in assessing value for money received from an experience, effective promotion will be more important than ever.
• E) b and c

---

Definitions:

Productive

Having the ability or capacity to produce a significant amount or result, especially regarding economic goods or services.

Complementary Factors

Complementary factors in economics refer to goods or inputs that are used together in production or consumption, where an increase in demand for one leads to an increase in demand for the other.

White-collar Employment

Jobs that typically involve professional, managerial, or administrative work, often in an office setting, as opposed to blue-collar jobs that involve manual labor.

Substitution Effect

The change in demand for a good due to a change in its price, leading consumers to substitute it with another product.