Unit 5: Supplying Tourism Products

Meaning of supply of tourism products, supply function, supply curve and Law of Supply, Costs in
tourism: relationship among costs, total revenue and profit in the tourism industry, Concept of shift in
supply curve and the factors shifting supply curve of the tourism products, Concept of elasticity of supply
for tourism products, Challenges for the supply of tourism products, movement along the supply curve.

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Unit 3: Economics of Tourism Demand

Concept of demand for the tourism product, tourism demand function, Demand Curve and Law of
Demand, Types of variables influencing tourism demand, Levels of choices affecting tourism demand, Factors constraining tourism demands, Concept of shift in the demand curve, Concept of elasticity of
elasticity of demand for tourism products, Measurement of Price, Income and Cross Price Elasticity of
Demand, Lancastrian demand analysis, movement along the demand curve.

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