Examlex

Solved

Scenario 2

question 117

Multiple Choice

Scenario 2.1 Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights.
Refer to Scenario 2.1. Southwest's low fares, dependability, and its on-time flights represent its


Definitions:

Quantities Demanded

The total amount of a good or service that consumers are willing and able to purchase at a particular price in a given market.

Substitute Products

Products that can serve as replacements for each other; when the price of one increases, the demand for the substitute is likely to increase.

Price

The charge in currency projected, demanded, or provided in recompense for something.

Purchased Amount

The total volume or quantity of goods or services bought.

Related Questions