Which of the Following Is the Least Important Characteristic of Tourism

question 12

Multiple Choice

Which of the following is the least important characteristic of tourism policy?

• A) It must concentrate on how critical and limited resources can best respond to perceived needs and opportunities in a changing environment.
• B) It must recognize the intellectual nature of the process of policy formulation. As such, it must incorporate tacit knowledge and personal experience as important sources of information, in addition to more conventional methods of research and study.
• C) It must accord a higher priority to the views of elected officials than to those of the general public.
• D) It must encourage and stimulate organized creativity so as to avoid policies based on stereotyped or outmoded perceptions.
• E) It must be constructed to permit and facilitate a continuing dynamic social process requiring inputs from multiple sources.

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Definitions:

Cross-Price Elasticity

A measure of how much the quantity demanded of one good responds to a change in the price of another good, indicating the relationship between the goods (substitutes or complements).

Substitutes

Goods or services that can be used in place of each other; when the price of one increases, the demand for the other is likely to increase.

Complements

Complements are goods or services that are used together, where the increase in the consumption of one leads to an increase in the consumption of the other.

Price Elasticity

An index indicating how the amount of a product demanded or supplied changes in response to a price variation.