It is said that Carnival was originated in southern Europe with the Roman feast of Saturnalia, which is known as a midwinter celebration of birth and renewal, and the inversion of the norm. It developed during the Middle Ages into the Feast of Fools, in which the pretensions of the medieval Catholic Church were scandalously mocked. The Church, unsurprisingly, did its best to suppress the festival, but in long run assimilation proved more effective, and Carnival was incorporated into the Catholic faith as a final binge carne vale which was understood as the farewell to flesh before the fasting period of Lent.
Carnival is known for being the greatest show on earth which encompasses the celebration of life, color and the togetherness of a people. …show more content…
Carnival in Trinidad and Tobago was said to have been invented in the West Indies through French settlers that came with large amounts of slaves in the late eighteenth century. Carnival was celebrated from Christmas day to Ash Wednesday in the older days where the elite white paraded in costumes to represent their European heritage.
In the carnival industry there are many different type of events that take place during this festive period. Scarcity arises in this area because people would like to go out and have a great time at many different events but due to the lack of time or lack of money which are scarce resources they cannot achieve these needs or wants. In a larger scale of things the carnival season is allotted a certain amount of funds every year during the read out of the national budget. It is shown in the Trinidad and Tobago guardian paper that there was a 44million dollar cut back on the …show more content…
Carnival fetes such as Fire fete and Destra Garcia’s Queen of Bacchanal (QOB) according to the carnival event calendar from the national carnival corporation of Trinidad and Tobago. Tickets sales did not turn out as well as it was supposed to therefore there was a cancellation of these two fetes in particular. Fire fete on the other hand did not see it fit to continue with plans since ticket sales had drop by at least 40%. In this scenario demand for tickets in these events were not there because patrons deemed that spending the amount of money for that specific ticket was too much and sir plus to requirements. The law of demand states the higher the cost the lower the demand. This being compared to all-inclusive fetes where drinks and food are provided within ticket cost the supply is higher because the price is higher for a better quality event as opposed to an event that I just based on quantity. As I mentioned earlier supply and demand differ because demand is low when the price is high and supply is high when the demand is high because you gain more profit this way. The demand for carnival was lower this year than last year because of fete costs to certain event and promoters did not readjust their prices to meet the opportunity cost of the citizens so therefore the demand was affect in turn which affected the
Carnival is known for being the greatest show on earth which encompasses the celebration of life, color and the togetherness of a people. …show more content…
Carnival in Trinidad and Tobago was said to have been invented in the West Indies through French settlers that came with large amounts of slaves in the late eighteenth century. Carnival was celebrated from Christmas day to Ash Wednesday in the older days where the elite white paraded in costumes to represent their European heritage.
In the carnival industry there are many different type of events that take place during this festive period. Scarcity arises in this area because people would like to go out and have a great time at many different events but due to the lack of time or lack of money which are scarce resources they cannot achieve these needs or wants. In a larger scale of things the carnival season is allotted a certain amount of funds every year during the read out of the national budget. It is shown in the Trinidad and Tobago guardian paper that there was a 44million dollar cut back on the …show more content…
Carnival fetes such as Fire fete and Destra Garcia’s Queen of Bacchanal (QOB) according to the carnival event calendar from the national carnival corporation of Trinidad and Tobago. Tickets sales did not turn out as well as it was supposed to therefore there was a cancellation of these two fetes in particular. Fire fete on the other hand did not see it fit to continue with plans since ticket sales had drop by at least 40%. In this scenario demand for tickets in these events were not there because patrons deemed that spending the amount of money for that specific ticket was too much and sir plus to requirements. The law of demand states the higher the cost the lower the demand. This being compared to all-inclusive fetes where drinks and food are provided within ticket cost the supply is higher because the price is higher for a better quality event as opposed to an event that I just based on quantity. As I mentioned earlier supply and demand differ because demand is low when the price is high and supply is high when the demand is high because you gain more profit this way. The demand for carnival was lower this year than last year because of fete costs to certain event and promoters did not readjust their prices to meet the opportunity cost of the citizens so therefore the demand was affect in turn which affected the