Questions and Answers
What does demand refer to in the tourism industry?
The volume of goods and services customers require at a given time
What is the counterpart of supply in the service-oriented tourism industry?
Capacity
What does capacity refer to in the tourism industry?
An organization's ability to render or provide services to its customers
What is the counterforce for demand in the market?
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What does productivity refer to for an organization?
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Study Notes
Tourism Industry Concepts
- Demand in the tourism industry refers to the desire and willingness of consumers to purchase a specific tourism product or service.
Supply and Demand Counterparts
- The counterpart of supply in the service-oriented tourism industry is demand.
- The counterpart of demand is supply.
Capacity in Tourism
- Capacity in the tourism industry refers to the maximum amount of tourism products or services that can be produced or provided by a business or organization.
Market Forces
- The counterforce for demand in the market is supply.
Productivity in Organizations
- Productivity in an organization refers to the ability to achieve maximum output with minimum input of resources, resulting in efficiency and effectiveness.
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