Identify and State the Historical Significance of the Following

question 62

Short Answer

Identify and state the historical significance of the following:
-"containment doctrine"

Recognize the role of revenue management in adjusting pricing and supply to maximize profits.

Understand the factors influencing the reserved quantity for higher price segments and spot markets.

Learn the importance of shifting demand from peak to off-peak periods for supply chain profitability.

Know how revenue management tactics are devised based on customer behavior forecasts.

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Definitions:

Economists

Professionals who study the production, distribution, and consumption of goods and services, and analyze economic issues and behaviors.

Investment

The act of allocating resources, usually money, with the expectation of generating an income or profit, such as purchasing assets or stocks.

Economic Term

A concept or terminology used within the field of economics to describe processes, theories, or phenomena related to how goods and services are produced, distributed, and consumed.

Opportunity Cost

Giving up potential improvements from various alternatives by choosing one option.