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Essay / Research Paper Abstract
This 13 page paper, including a two page annotated bibliography, looks at the influences on prices within the airline industry, The paper includes explanations of price theory and the impact of supply and demand and the different influences of on supply and demand. These are then applied to the airline industry and ticket prices. Examples are used from European companies, but the theories and applications are equally as applicable to other areas. The bibliography cites 5 sources.
Page Count:
13 pages (~225 words per page)
File: TS14_TEairpric.rtf
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Unformatted sample text from the term paper:
increasing information flow have increased the demand and accessibility of air travel. This has resulted ion many changes in terms of supply and prices, in looking at the different influences
it is possible to assertion their impact on the prices. The airline industry overall has change, but one area that may be argued as moving form growth to maturity is
that of the European market; prices have plummeted as suppliers have increased and the political fall out form the US and the terrorist attacks in the US have made themselves
felt. To understand this we need to look at price theory and the role of supply and demand. Therefore, we will look at the theories before applying them to the
airline industry and ticket process. There are two main components to the study of price theory; these are demand side economics and
supply side economics. The way in which supply and demand meet can be seen as the determinates of price and the equilibrium that may be reached in any market. Demand
theory explains why and how consumers will spend money, seeking to maximise their utility. On the supply side, we have aspects such as market structure and theories of the way
that firm behaviour included. The variants of supply and demand will always be in state of flux, with both the supply of
the product varying, and the amount of demand also fluctuating due to other related factors. If we chart this we can illustrate the willingness of customers to buy and the
eagerness of suppliers to supply a market as two separate lines on a graph. The price will be determined where these lines cross (See fig 1). Fig 1. Supply
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