Friday, September 22, 2017

Economics in the Sports Industry

http://sportphil.com

  • OVERALL RESEARCH QUESTION: How does the sports Industry make its money?
  • KEY ECONOMIC PRINCIPLES I’M ADDRESSING:
    • Because of scarcity, people choose.All choices have opportunity cost
    • People usually respond to incentives in predictable ways
    • Institutions are the “rules of the game” that influence choices.
  • SUB QUESTIONS
    • What events generate the most profit?
    • Which sport generates the most profit?
    • How does the Industry keep people coming back?
    • Why are athletes paid so much?

  • RESOURCES FOR RESEARCH:
WEBSITES: FoxSports, Forbes, TechRepublic,  The Odyssey Online
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