Discuss the four areas of market structure and explain

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Case Study: Due to the Covid-19 Pandemic it has not been possible for many consumers to go abroad on holiday and there was a huge demand for UK holidays. This is called 'domestic tourism' but often referred to as a 'staycation'. There is an argument that due to uncertainties of Covid spreading in other countries of the world there will be worries and a lack of confidence by many to go abroad, and likely that a considerable number of consumers will opt for domestic tourism again. Coupled to this there is the likelihood of overseas tourists coming to the UK to visit. As a result of this is likely that 'demand' for UK holidays will exceed the available 'supply'.

Question: Discuss the four areas of market structure and explain which one is applicable in this case and why.

Reference no: EM133327736

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