Using an example from the leisure industry, e.g. airline travel, to Essay

Using an example from the leisure industry, e.g. airline travel, to what extent will a high degree of competition in a market result in lower prices for the consumers - Essay Example With such competitions, especially healthy ones, the businesses are forced to jointly manipulate their products’ and services’ prices in order to cope up with the market forces and customer demands (Peter, 1987, p. 57). The end results of such healthy competitions is lowering of commodity or service’s prices, which is a great advantage to the end consumers. This paper will thereby analyse the trends within the entire leisure industry, but narrow down to give a close attention to the airline travel business (Wilkerson, 2003, p. 46), and the market competitions that result to the lowering of prices. With regards to recreation as a business segment within leisure industry, humans tend to spend much of their time in activities of daily work, living, social duties, sleep, and leisure as a whole (Thomas,1970, p. 16). The later outcome being free from aforementioned commitments of social or physiologic needs, which are recreational prerequisites. According to Klaus & Christine (2004, p. 92), leisure increases with increase in longevity, as many people spend more hours on physical and economic survival. Other aspects accounting for the increasing role of recreation within the society include population trends, affluence, as well as the increasing commercialization of leisure activities and offerings (Thomas,1970, p. 19). While several people’s perception is that leisure is simply a spare time or unconsumed time left by the living necessities (McLean& Rogers, 2005, p. 201), most scholars hold that leisure is a strong force that pushes individuals to reconsider and reflect on th e realities and values missed in daily life activities. Thus, recreation or leisure remains the most essential element of individual’s development, as well as civilization (Thomas,1970, p. 21). Another segment of leisure is entertainment, which is a form of activity performed to hold the attention and interest of a target audience, or in simple terms, to give delight and