The Irish Potato Famine Is a Good Example of

question 28

Multiple Choice

The Irish potato famine is a good example of

• A)structural disruption
• B)agricultural disruption
• C)top level collusion
• D)an open market

Understand the role and goals of Global Sustainable Tourism Council (GSTC) in promoting sustainable practices worldwide.

Recognize barriers to sustainable consumer behavior in small communities or developing regions.

Identify and understand environmental regulations.

Comprehend strategies marketers use to communicate environmental initiatives.

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Definitions:

Explicit Costs

Money paid out to different parties during the operation of a business, covering expenses like employee salaries, leasing costs, and material purchases.

Opportunity Costs

The value of the next best alternative forgone as a result of making a particular choice.

Production

The process of creating goods or services by combining various elements such as labor, technology, and raw materials.

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources that it already owns without paying for them explicitly.