What Does the Industry Call a Private Company That Negotiates

question 18

Multiple Choice

What does the industry call a private company that negotiates a bulk purchase price on seats from the airlines and then sells them at a discount to travel agencies and tour operators?

• A) A specialty agency
• B) A consolidator
• C) An incentive travel agency
• D) A consortium

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Definitions:

Scarce Resources

Limited supplies of inputs necessary for production, leading to trade-offs and choices in their allocation.

Capital

Assets or money possessed by an individual or organization, which can be used for initiating a business or investment purposes.

Marginal Rate

The additional cost or benefit associated with producing or consuming one additional unit of a good or service.

Transformation

The process of changing or converting one form or state of something into another, often seen in manufacturing and industry.