1. Objective 2.01 Vocabulary Hospitality and Tourism

2. Country of origin - country from where a person’s trip originates Demand - Desire for certain good or service supported by the capacity to purchase it. Depression - 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 - the multiplier effect refers to the increase in final income arising from any new injection of spending. 10-4-16

3. Expansion – period when economy is growing and doing well. Globalization- process in which the economies of different nations becomes interrelated. Inbound – arriving. Infrastructure – basic physical and organizational structures needed for the operation of society or a community. 10-5-16

4. National Tourism Office - office that promotes tourism abroad to bring international tourists into its country. Outbound - departing. Recession – period when the economy is slowing down and doing poorly; also called contraction. 10-6-16

5. Supply - The total amount of a product (good or service) available for purchase at any specified price. Transient – lasting only a short while; passing through for a brief period. Transnational corporation – corporation that has major operations in several countries. 10-7-16

6. Eco-friendly : goods and services that inflict minimal or no harm on the earth, its resources, and the environment. Ecosystem : A specific area in which all plants, animals, and microorganisms function together and even depend on each other for survival. Ecotourism : Travel that is nature based; concentrates on protection of the earth, its resources, and minimizing damage from tourism. Environmental Consultant : A person who evaluates impacts to the environment and proposes solutions. 10-10-16

7. Environmental Footprint : A measure of how much impact one person has on the environment. Environmental Impact : The stress or damage on land, water, air, and natural features. Environmental Impact Assessment : A report on the status and health of the environment and what potential impacts could result from new developments. Environmental Sustainability : Practice of minimizing or eliminating destructive impacts on the earth and its resources. 10-13-16