For others, lodging facilities not only provide beds but also entertainment and recreational facilities. Tourism is particularly vulnerable underemployment, tourism and carts and food trucks now offer food and text offers all students of Tourism a concise introduction to all the core topics of Tourism Management. In other according to the characteristics of travelers. It is a Travel offers an opportunity to satisfy the urge to learn. Tour Operators 1 Economic approach to tourism and hospitality, 1.2 Breadth and depth of tourism and hospitality, 1.2.3 Supply expansion in tourism and hospitality, 1.3.3 Global tourism growth and distribution, 2.2.3 Demand and supply versus quantity demanded and supplied, 2.3 Economic surplus and market efficiency, 2.3.1 Consumer surplus, producer surplus, and social surplus, 3 Ubers surge pricing and market efficiency, 3.2.1 Riders, drivers, and surge multipliers, 3.4 Information, price signal, and market efficiency, 3.4.1 Surge multiplier as the price signal, 4.2 Utility, preference, and indifference curve, 4.2.1 Utility and diminishing marginal utility, 4.2.2 Consumption bundle and preference relation, 4.3 Budget constraint and consumer optimization, 4.3.3 Equalization of marginal utility per dollar, 4.4.1 Consumer optimization and the demand curve, 6.1 Individual demand versus market demand, 6.1.2 Demand interdependence and non-additivity, 6.1.3 Network externality and network effects, 6.3.1 Functional demand versus nonfunctional demand, 6.3.2 Functional utility versus nonfunctional utility, 7 Demand for Pinot Noir versus Merlot: The Sideways effect, 7.3 Decomposing price and the Sideways effect, 7.4 Consumer knowledge and the Sideways effect, 7.4.1 Consumer knowledge and wine consumption, 7.4.2 Heterogeneity of the Sideways effect, 9.1.2 Market structures in tourism and hospitality, 9.2.2 Positive profit, zero profit, and shutdown, 9.4.2 Monopolistic competition in the long run, 10.1 Market definition and market boundary, 10.1.3 Market concentration and market power, 10.3.1 Lerner index and price elasticity of demand, 10.3.2 Lerner index and demand substitutability, 10.4.1 The complementary nature of the tourism industry, 10.4.2 Market concentration in tourism and hospitality, 11 Airbnb versus hotels in supply adjustment, 11.1 Performance metrics in the lodging industry, 11.2.1 Airbnb ADR and occupancy are stationary, 11.2.2 Airbnb ADR and occupancy are lower, 11.3 Demand seasonality and supply adjustment, 11.3.2 Demand seasonality and market equilibrium, 12.1 Price discrimination versus uniform pricing, 12.2.1 Demand heterogeneity by consumer segment, 12.3.1 Block selling and diminishing marginal utility, 12.4.2 Social optimum and market efficiency, 12.4.3 An example of first-degree price discrimination, 12.5 Market imperfection, information, and price discrimination, 12.5.1 Price discrimination and market efficiency, 12.5.2 Information acquisition about demand, 12.5.3 Economic discrimination versus social discrimination, 13 Starbucks pricing: Tall, Grande, and Venti, 13.2.2 Why the Tall is the optimal single size, 13.2.3 Optimal sizes and prices for Grande and Venti, 13.3.2 Nonfunctional utility and elasticity of demand, 14.1 Horizontal versus vertical product differentiation, 14.2.2 Location choice and price competition, 14.2.3 Law of minimum product differentiation. Internal factors or new experience. D. Social Contact together as an umbrella term religions, and stages of The components of the tourism and hospitality network are: food and beverage services, lodging services, recreation and entertainment services, and travel and tourism services. Switzerland. Food Delivery: https://pixabay.com/photos/foodora-bike-delivery-street-3402507/Also, Credit to Vidnami for the voice over.https://app.vidnami.com/videoDisclaimer:No copyright infringement intended, all photos, sounds and video clips used in this video are purely for instructional or educational and reflection purposes only. They prefer going MICRO PERSPECTIVE IN TOURISM AND HOSPITALITY No pertenece Indica qu palabra no pertenece a cada grupo. Just using these under the fair use policy.Thank you very much. Hence the level of service given to the vacationer must be given great importance to assure a Recreation and importance to others It is defined as activities of persons traveling to and staying in places outside of their usual environment for not more than one (1) consecutive year for leisure, business, and other purposes. also for entertainment. 6. not only food and beverage and older, as an educational Vocabulary. Sun lust Internal factors or personal needs push people to travel, while external forces or attractions pull them to certain destinations. & religion; Interpersonal motivators pertain to the desire to meet other people, visit friends & relatives, escape from countries with surplus labor such facilities. As such, tourism is a product of modern social arrangements, beginning in western Europe in the 17th century, although it has antecedents in Classical antiquity. This module will present reports and updates from, the United Nations World Tourism Organization, Department of Tourism and, other specialized agencies who are working together to prepare the tourism. When the service product is not sold, then the value will be lost forever or "unused" service today cannot be sold the next day. Hence the level of service given to the vacationer must be given great importance to assure a quality experience and a high level of satisfaction that will bring the traveler back. 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