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Paper 1 real-world example: Behavioural economics and PED

The $785.6 billion global airline market is a major part of the world economy and​​​​​​​ is also hugely influential in terms of its impact on other markets such as tourism is incredibly significant. Airline businesses are constantly trying to grow their profits by managing costs effectively and increasing their revenues.​​​​​​Whenever you book an airline ticket you can see how airlines are trying...

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