Brief Answer Questions:
[10 × 1 =10]Define leisure and tourism.
One of the fundamental economic principles is that people think at margin. What does it mean?
Define Demand? List the determinants of demand.
Explain shift in the supply curve with diagram.
What are factors of production? List their types.
What is a market structure?
What is the difference between GDP and GNP?
List the instruments of monetary policy.
Why are quantitative methods important and valuable?
List the factors affecting travel and tourism yields and future.
Short Answer Questions: (Attempt any SIX Questions)
[6 × 5=30]Explain the interrelationship between tourism and other sectors of the economy.
Explain the level of choices affecting tourism demand.
Define supply and supply function? Explain the determinants of supply.
What is opportunity cost? Explain the difference between accounting cost and economic cost with the help of a hypothetical tourism sector business example.
Explain the different pricing practices in travel and tour business.
Explain business cycle with its different phases.
What is tourism demand forecasting? Explain the methods of tourism demand forecasting.
Comprehensive Answer Questions: (Attempt any TWO Questions)
[2 × 10=20]What is rural tourism? Explain its drivers and types. What are the factors affecting rural tourism motivation? Explain.
Explain price elasticity of demand. Derive its formula. Explain its types with suitable diagrams.
Suppose the per night price of a deluxe room in a 3-star hotel at the banks of Begnas lake is Rs. 12,000. The hotel witnesses 900 occupancies one month. Now, due to a boost in tourism and increase in tourist visits, the hotel increases the price of the rooms to Rs 16,000 per night. At the end of the month, the hotel observes that 700 rooms were booked. Calculate the price elasticity of demand and interpret the results.
What is regression analysis? Explain the steps in Ordinary Least Squared (OLS) estimation method.