The demand for air travel in the tourism industry tends to be relatively ____. Thus, small _ in air fares will result in relatively ___ in air travel.

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15-04-2022
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The demand for air travel in the tourism industry tends to be relatively ____. Thus, small _ in air fares will result in relatively ___ in air travel.

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Tundexi Tundexi · Answer 1 · 2022-04-26T12:22:56+02:00

Demand for air travel in the tourism industry tends to be relatively elastic and as a result, the small reductions in air fares will result in relatively large increases in air travel.

What is a demand?

It means the quantity of consumers that are willing to buy products at various prices during a given period of time.

The demand for air travel is also affected by price which is asserted by law of demand that stated "the higher the price, the lower the quantity demanded.

The demand for air travel in the tourism industry tends to be relatively ______. Thus, small _____ in air fares will result in relatively _____ in air travel.

Respuesta :

What is a demand?

Otras preguntas

The demand for air travel in the tourism industry tends to be relatively ____. Thus, small _ in air fares will result in relatively ___ in air travel.