Question

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 structure of the travel industry changed from monopolistic competition to an oligopolistic one.
C. The pricing power of the incumbent firms in the travel industry has increased.
D. The bargaining power of buyers in the travel industry has decreased.

Answer 1

In the given case of travel industries The travel industry changed from a consolidated structure to a fragmented one.

Hence, Option A is correct.

• It includes a variety of businesses, such as lodging, transportation, attractions, travel agencies, and more.
• When people travel and stay in locations other than their normal surroundings for fewer than one year in a row for leisure, business, health, or other reasons, this is referred to as tourism.
• A country's infrastructure is developed, hundreds of jobs are created, and there is a sense of cultural exchange between people and visitors thanks to tourism.

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