1. Outline the main features and trends in Australia’s inbound tourism market.
2. Explain and account for the price and income elasticities of demand in this market in both the short run and the long run.
3. Choose five different factors that could affect supply and/or demand in this market and using appropriate diagrams explain their effect on this market.
4. Describe the economic structure of the tourism industry in Australia and discuss the implications for profits in the industry in both the short run and the long run.