According to Professor Pearce, Successful Business Practice in Tourism Depends

question 12

Multiple Choice

According to Professor Pearce, successful business practice in tourism depends mainly on:

• A) understanding the consumer.
• B) marketing effectiveness.
• C) staff performance and training.
• D) the hospitality spirit.
• E) financial and managerial inputs.

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Definitions:

Study of Economics

The academic discipline that examines how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs.

Basic Truth

A fundamental, unquestionable fact or principle that serves as the foundation for a concept or belief system.

Economic Self-Interest

is a principle suggesting that individuals act in a way that maximizes their own benefits or gains, often driving economic decisions and actions.

Economic Behavior

The actions or decisions that individuals, households, businesses, and governments make in regard to the allocation of resources.