Earlier,the Travel Industry Was Controlled by a Few Large Travel

question 3

Multiple Choice

Earlier,the travel industry was controlled by a few large travel companies that booked holidays,air tickets,bus tickets,and hotels for their customers.However,with the emergence of the Internet,smaller travel agencies started mushrooming in the industry and customers started making their own reservations.Which of the following can be inferred from this information?

• A) The travel industry changed from a consolidated structure to a fragmented one.
• B) The pricing power of the incumbent firms in the travel industry has increased.
• C) The bargaining power of buyers in the travel industry has decreased.
• D) The structure of the travel industry changed from monopolistic competition to an oligopolistic one.

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Definitions:

Crowd-Control Officers

Crowd-control officers are law enforcement or security personnel trained to manage and disperse large groups of people, often in situations of unrest.

Audience

A group of people who gather virtually or physically to witness, listen to, or view a performance, event, or presentation.

Aggressive Mob

Describes a group of people acting together in a hostile or violent manner, often driven by a common cause or emotion.

Acquisitive Panic

A social phenomenon where individuals or groups frantically acquire goods or assets, often driven by fear or speculation.