Title: Describe the economic impact of sports and entertainment.
Course: Sports and Entertainment Management (12163-II) > Section: Describing the Economics of the Industries

Description should include examples of the global economic impact of sports and entertainment on the following levels:

- Local (e.g., ticket prices)
- State (e.g., horse racing)
- National (e.g., salary caps)
- International (e.g., Olympic site selection)

Process/Skill Questions:

- What is the economic impact of salaries in the sports and entertainment industries?
- What is the short-term vs. long-term impact of a sports and entertainment venture in a given geographic area?
- How could a dynamic vs. variable ticket pricing strategy result in a positive economic impact?
- How is the equilibrium price of tickets met in the sports and entertainment industries?
- Why do local economies invest in sports and entertainment venues?