L9: The Basis for Demand for Leisure (DEMAND FOR LEISURE (Definition of…
L9: The Basis for Demand for Leisure
ECONOMIC OF DEMAND
Price of leisure: entrance charge, transport, accom, meals, equipment, clothing,
Average cost of participation. The higher the average cost of leisure, the lower the participation rate.
Facilitate future planning.
The marginal cost: determine the freq of participation
Elastic: Sensitive to price change. (Number of substitutes, necessity, addictiveness, consumer awareness) Inelastic: Unresponsive.
Positive relationship: income = leisure
May switch to certain forms of leisure when income rise
Leisure is taken at the expense of income - issue of leisure-income trade-off. (spends time on leisure, time could be used to earn income instead. )
Psychological and Social Influences on demand
Attitudes, Values and Motivations
Attitude: Learned predisposition to respond in a consistent manner with regards to the situation
Value: Belief that a specific mode of conduct is personally or socially preferable to an opposite mode of conduct.
Motivation: A force that leads people to seek certain goals in relation to their needs.
PATTERNS OF DEMAND
Change in demand: economic change, fashion and trends, recession, technology changes
Analysed long term and short term
Determined by location of resource and facilities
Ability and willingness of people to travel to such locations due to the cost (money and time)
Small amount of time on the leisure activity = people will not be prepared to invest a lengthy period of travel.
DEMAND FOR LEISURE
Definition of Demand
Describe a relationship between quantities of a product that people will purchase and the prices they will pay.
Ability and willingness to pay for the product that is desired
Elements of Demand
Latent or Suppressed Demand
Unfullfilled or unsatisfied demand
Unfulfiled due to a lack of facilities
e.g ice skating ring unavailable. demand will be deferred until it is built.
Unfulfilled due to a lack of personal resources e.g income
E.g pay rise, additional annual leave
Desire may become effective in the future if circumstances change e.g health condition change, job requirements
Effective, Expressed or Actual Demand
Actual number of participant
Do not desire leisure
Reduce number of no demand people and influence them to be part of effective demand
Demand = Participation?