Following Deregulation in the Airline Industry

question 53

Multiple Choice

Following deregulation in the airline industry,

• A)small carriers have gone out of business but large carriers have not.
• B)large carriers have gone out of business but small carriers have not.
• C)both large carriers and small carriers have gone out of business.
• D)neither large carriers nor small carriers have gone out of business.

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Definitions:

Opportunity Costs

The price paid by not choosing the second-best option available during decision-making.

Capital Goods

Physical assets such as machinery and buildings used by businesses to produce goods and services over time.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, indicating an improvement in the country's economic health.

Resource Allocation

The process of distributing available resources among various competing needs or uses in order to achieve desired objectives.