The Economy Flashcards
1
Q
How can the hospitality business be measured?
A
- Financial turnover
- Economic contribution to the UK government treasury
- Number of people employed
- Number of businesses in the UK
- Percentage of hospitality jobs compared to other industries
- Size of hospitality industry compared to other UK industries.
2
Q
What are the three scales that businesses operate on?
A
- Local
- National
- International
3
Q
What do independent local business provide?
A
Specialized products and services that meet the needs of a local market.
4
Q
What do national and international businesses provide?
A
The same products worldwide. This means they will have ‘chains’ of outlets. (McDonald’s, Costa, Holiday Inn, Premier Inn)
