The terrorist attack on New York on 11 September 2001 caused a world wide recession and increased fear of flying, both of which severely affected the demand for travel by air. This led to the closure of some of the major airlines in the world.
Qn) Assess the relevance of price elasticity of demand, income elasticity of demand, cross elasticity of demand and price elasticity of supply in explaining the effects of these events on the airline industry. [15]
-Clement-
No comments:
Post a Comment