BHM 407 HOTEL ECONOMICS Click to view

MAASAI MARA UNIVERSITY

REGULAR UNIVERSITY EXAMINATIONS 2013/2014 ACADEMIC YEAR
FOURTH YEAR SECOND SEMESTER

SCHOOL OF BUSINESS AND ECONOMICS
BACHELOR OF HOTEL AND HOSPITALITY MANAGEMENT

 

COURSE CODE: BHM 407
COURSE TITLE: HOTEL ECONOMICS

DATE:15TH APRIL 204 TIME: 9.00AM – 12.00PM
INSTRUCTIONS TO CANDIDATES
SECTION A is compulsory
Answer any TWO questions in SECTION B

This paper consists of 2 printed pages. Please turn over.

Section A. Attempt all the questions from this section. 30 Marks
Question one
a) Briefly explain the following phrases. Use examples where necessary to support your answer
i) Markets are usually a good way to organize economic activity (6 Marks)
ii) A country’s standards of living depends on its ability to produce goods and services (6 Marks)
iii) Societies face a short-run trade-off between inflation and unemployment. (6 Marks)
b) List three elements that must be present for demand to exist.
(3 Marks)
c) Using an appropriate example, differentiate between desire and demand in relation to the analysis of demand for a particular hospitality product. (4 Marks)
d) Explain how you would determine the market demand of a particular product. Use a specific example to support your answer. (5 Marks)

Section B. Attempt any TWO questions from this section. 40 Marks

Question two
Discuss the role of the hospitality industry in the growth of Kenya’s economy. (20 Marks)

Question three
Outline the market structure of the hospitality industry in Kenya. Base your argument on the following sub-headings;
i) Competition level
ii) Demand
iii) Supply
iv) Ownership
v) Product type and development (20 Marks)

Question four
Explain how you would use the following methods to analyse the demand of the hospitality product that you are dealing with.
i) The survey method
ii) The statistical method (20 Marks)

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