Macro Midterm Quiz 1

What Sector is one of the largest components of the global economy?

Tourism is ________ in the sense that an export product, it is not produced, packaged, shipped, received like the “hard” goods instead as intangible goods. 

The demand for tourism and hospitality is __________ _________. This means that in some

of the months activity is great while in other months it is not.

It refers to the wages  and  earnings  of  those  who  participate directly  in  the  sector  as  workers  or  entrepreneurs  which  directly receives the actual payment or income from tourist expenditures.

It refers to the money received from the tourist expenditure will be used in turn to buy supplies such as raw materials, food, beverages, and materials for construction, transportation, and furniture and so on.  This is also know as the second effect.

It refers to the value of goods and services that must be imported to service the needs of tourism and hospitality.

The total direct and indirect effects of an infusion of an external source  of  income  into  an  area  are  termed _________.

Pollution

• Negative Economic Impacts

• Negative Environmental Impacts

• Negative Socio-cultural Impacts

Foreign Exchange Earnings

• Negative Socio-cultural Impacts

• Positive Environmental Impacts

• Positive Economic Impacts

Seasonality

• A. Negative Environmental Impacts

• B. Negative Economic Impacts

• C. Positive Socio Cultural Impacts