Unit 2.1 Hospitality and Tourism

Country of Origin - correct answer country from where a person's trip originates Demand - correct answer desire for certain good or service supported by the capacity to purchase it Depression - correct answer lowest point in an economic cycle characterized by (1) reduced purchasing power, (2) mass unemployment, (3) excess of supply over demand, (4) falling prices or prices rising slower than usual, (5) falling wages or wages rising slower than usual Economic Multiplier - correct answer multiplier effect refers to the increase in final income arising from any new injection of spending Expansion - correct answer period when economy is growing and doing well Globalization - correct answer process in which economies of different nations becomes interrelated Inbound - correct answer arriving Infrastructure - correct answer basic physical and organizational structures needed for the operation of society or a community National Tourism Office - correct answer office that promotes tourism abroad to bring international tourists into its country Outbound - correct answer departing Recession - correct answer period when the economy is slowing down and doing poorly; also call contraction Supply - correct ans