Give an example of a business (preferably tourism and hospitality business) that is close to being perfectly
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Question:
- Give an example of a business (preferably tourism and hospitality business) that is close to being perfectly competitive (none are perfect examples) and one that is a monopoly (in a particular market). Discuss what this means in terms of their pricing
- Give an example of a business (preferably tourism and hospitality) that is monopolistically competitive (in a particular market). Discuss what this means in terms of their pricing
- Choose one of the benefits or criticisms of free markets and give an example that has demonstrated this as part of the response to Covid19 restrictions.
- Give an example of a recent government intervention in the market and explain how and why the government has intervened in this way. Relate your explanation to the factors discussed in unit 11.
- Choose three of the macro economic factors discussed in unit 12 and find the most recent values for any country other than Australia. Describe how this has changed since January. Briefly discuss what this means for tourism demand.
- Choose three of the macro economic factors discussed in unit 13 and find the most recent values for any country other than Australia (different country than used for unit 12 question). Describe how this has changed since January. Briefly discuss what this means for tourism supply.
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