ECON6001 Economic Principles Airlines Industry Presentation

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Assessment 2- Presentation Student Name ECON6001 Economic Principles April 7, 2020 Agenda • Market Structure of Airlines Industry • Companies Selected • Impact on Behaviour of Consumers ... • Impact on Pricing • Impact of Pandemic on Pricing Decisions of Sellers • Market Power Exercised by Sellers • Reaction of Australian Government Introduction • To order to determine the effect of Covid-19 the airline sector is chosen. • Covid-19 poses a major challenge to the world economy which has significant industrial consequences on all sectors. • The effect of the Covid-19 virus will be analyzed using economic theories and business dynamics. • There is a review of the effects of the Covid-19 pandemic on consumer behaviour. They would also examine the influence of the pandemic on sellers 'prices and commodity decisions. • The study will also be followed by market influence and policy reaction. Market Structure of Airlines Industry • The market structure of the airlines industry is oligopolistic market structure. • The number of firms in the industry are very few. • The firms cannot keep the others from having significant influence. • There could be various factors which can contribute to the evolution and dissolution of the oligopolies. • These factors also have a huge impact on the organizations in the industry. Companies Selected • Quantas and Virgin Australia are two top Airlines companies in the Australian Airlines industry. • The Australian Airlines industry is dominated by five companies and these two are part of them. • It shows that the selection of the oligopolistic market structure is right. There are a few number of firms. • The other characteristics of the [Show More]

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