Question

How do professional sports leagues use the concept of scarcity when locating franchises?

How do professional sports leagues use the concept of scarcity when locating franchises?

Homework Answers

Answer #1

The professional sports League use the concept of scarcity when locating franchise as

Scarcity is the situation when the available resources are not able to fulfill the current demand. When planning an event the organizers are concerned with the number of passes that are sold at the event. the league will create artificial scarcity,by not planning the event in every metropolitan area,so that eventually the passes are sold off at higher rates. There are internal rules that restrict movement of franchise to maintain scaricty .

as according to the concept of economics , when demand is high at times of scarcity the prices of the products shoot up.

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