Multiple Select QuestionSelect all that applyThe 4th of July weekend has arrived. Millions of people go to the beach for the long holiday weekend. Which of the following scenarios illustrates demand derived from this holiday?Multiple select question.Hotels renovate their roomsRestaurants double their meat and produce ordersLocal communities hire extra life guardsGrocery stores renovate their stores
Question
Multiple Select QuestionSelect all that applyThe 4th of July weekend has arrived. Millions of people go to the beach for the long holiday weekend. Which of the following scenarios illustrates demand derived from this holiday?Multiple select question.Hotels renovate their roomsRestaurants double their meat and produce ordersLocal communities hire extra life guardsGrocery stores renovate their stores
Solution
The scenarios that illustrate demand derived from the 4th of July holiday are:
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Restaurants double their meat and produce orders: This is because the influx of people going to the beach for the holiday increases the demand for food at restaurants.
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Local communities hire extra life guards: The increase in people at the beach means there is a higher demand for safety measures, hence the need for more lifeguards.
The other two options, "Hotels renovate their rooms" and "Grocery stores renovate their stores", do not directly illustrate demand derived from the holiday. Renovations could be due to a variety of reasons and are not directly linked to an increase in demand due to the holiday.
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