Economics Flashcards
(4 cards)
0
Q
Key concepts, theories, etc (used in studies of tourism OR events)
A
Demand (determinants, price elasticity, measures), benefits (income, employment), multiplier effect, leakages, sustainability costs, market failure.
1
Q
- Economics
A
Describes/ analyses the production, distribution and consumption of wealth. Split into macro (entire economy) and micro (supply and demand in particular markets).
2
Q
Typical questions asked ….
A
- What are the costs and benefits of hosting a mega-event?
* How much are people prepared to pay for a particular tourism product or service?
3
Q
Study units 1&4
A
Further reading
• Getz (2012: 106–114; 317–321)1
