DISTINCTION Essay Unit 1- exploring business, assignment 1 Learning aim A and B.

Tourism Answer The movement of people to countries or places outside of their usual environment for either personal or business reasons. United Nations World Tourism Organisation (UNWTO) Answer The agency for world tourism, responsible for the promotion of responsible, sustainable and universally accessible tourism. Domestic tourist Answer Someone travelling within their own country and staying away from home for at least one night. Day visitor Answer Someone taking a day trip with no overnight stay. Inbound tourist Answer Someone entering a country for the purpose of tourism. Outbound tourist Answer Someone leaving their own country to travel to another country for the purpose of tourism. Short break Answer Two or three days holiday, often at a weekend Stag or hen party Answer A group of men or women celebrating the marriage of their friend, usually shortly before the wedding takes place Incentive travel Answer A trip or holiday that is given to an employee for reaching their targets or for extremely good performance in their job. Sole trader Answer A business ran by a self-employed individual. Limited Liability Answer Responsibility that is limited to some extent (such as up to a maximum amount of money). Bankrupt Answer When a company is unable to pay its debts. Liable Answer Legally responsible for something. Private Limited Company (Ltd) Answer A business owned by shareholders who invest in the business in return for a share of the profits. Shareholders Answer The owners of the shares (either individuals or other companies)