Page 172 - Specialised First Foreign Language 2

letter of agreement: a letter from the buyer to the supplier
accepting the terms of the proposal. This may also be the
supplier s initial proposal that has been initialed by the

buyer

Lifecycle: The particular pattern through which a
destination evolves.

Limits of acceptable change: Environmental indicators
that can monitor changes over time as a consequence of

tourism.

load factor: average number of seats occupied, e.g.
motorcoach or air

local: belonging to a particular place or region

low season: that time of the year at any given destination
when tourist traffic, and often rates, are at their lowest.

Also referred to as off-peak or off-season.

macro business: a large, formal business that employs
many people

manifest: final official listing of all passengers and/or
cargo aboard a transportation vehicle or vessel

Market orientated pricing: A method of pricing that

benchmarks prices against competitors when deciding on
price.

market segment: the concept of dividing a market in parts

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