When Airlines Were Deregulated, Airfares Declined by 30 Percent

question 66

Multiple Choice

When airlines were deregulated, airfares declined by 30 percent. Deregulation is an example of political forces:

• A) letting the market move toward equilibrium, reducing excess supply.
• B) letting the market move toward equilibrium, reducing excess demand.
• C) making the market move away from equilibrium, creating excess supply.
• D) making the market move away from equilibrium, creating excess demand.

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Definitions:

Self-Determination Theory

A theory of motivation that emphasizes the role of intrinsic motivation in driving human behavior and the importance of psychological needs for competence, autonomy, and relatedness.

Competence

The ability to do something successfully or efficiently, often reflecting one's skillset and knowledge in a particular area.

Autonomy

The ability to decide freely and knowledgeably without being forced.

Personal Growth

An ongoing process of understanding and developing oneself in order to achieve one's fullest potential.