Lower Fares Increase Quantity Demanded
The term was coined in 1993 by the U.S. Department of Transportation to describe the considerable boost in air travel that invariably resulted from Southwest's entry into new markets, or by another airline's similar activity (Ritter) . Southwest offered dramatically lower air fares than established airlines that usually enjoyed a near-monopoly in the communities.
Read more about this topic: The Southwest Effect
Famous quotes containing the words fares, increase, quantity and/or demanded:
“Whoever understands how to do a kindness when he fares well would be a friend better than any possession.”
—Sophocles (497–406/5 B.C.)
“There is held to be no surer test of civilisation than the increase per head of the consumption of alcohol and tobacco. Yet alcohol and tobacco are recognisable poisons, so that their consumption has only to be carried far enough to destroy civilisation altogether.”
—Havelock Ellis (1859–1939)
“Something is infinite if, taking it quantity by quantity, we can always take something outside.”
—Aristotle (384–322 B.C.)
“The Citizens’ Protective League of Denver, founded to “squelch the knocking and blackmailing newspapers in our beautiful but benighted city,” demanded that no news story, editorial, or advertisement unfit for fifteen-year-olds to read should be published, ....”
—Administration in the State of Colo, U.S. public relief program (1935-1943)