Question

Sports Economics: Explain the following terms and their importance for the demand for attendance at a...

Sports Economics:

Explain the following terms and their importance for the demand for attendance at a sporting event.

  1. absolute quality
  1. uncertainty of outcome

Homework Answers

Answer #1
  • ABSOLUTE QUALITY:In this ,if the players in a team plays well,then more people will be interested to watch it.For example,people will watch a Grand slam tennis event ,rather than watching a game conducted in the school.This is because ,the players in Grand slam will be more better,when compared to players in school.
  • UNCERTAINTY OF OUTCOME :This is a situation in which ,the outcome is uncertain,that is,it is actually difficult to describe the current state.whether it will have more than one outcome or not.When we compare with sports,in a strong team,if the players are not enough confident about their victory,then,they may leave from the contest.
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