SPORTS ECONOMICS EXAMINATION QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY
1. Sports economics studies:
A. Financial behavior in sports industry
B. Playing techniques
C. Coaching only
D. Refereeing only
Answer: A
Rationale: It analyzes money and resources in sports.
2. Demand in sports economics refers to:
A. Fan interest in sports products
B. Athlete training
C. Stadium construction
D. Refereeing decisions
Answer: A
Rationale: Demand is consumer interest.
3. Supply in sports economics is:
A. Availability of sports events and goods
B. Coaching methods
C. Refereeing rules
D. Player skills
Answer: A
Rationale: Supply is what is offered.
4. Opportunity cost means:
A. Value of next best alternative
B. Total profit
C. Total revenue
D. Ticket price
Answer: A
Rationale: It is what is given up.
5. Elasticity of demand measures:
A. Responsiveness to price changes
, B. Stadium size
C. Coaching ability
D. Refereeing accuracy
Answer: A
Rationale: Elasticity shows sensitivity.
6. In sports, demand is highest when:
A. Teams are successful and popular
B. No games are played
C. Prices are high only
D. No fans exist
Answer: A
Rationale: Success increases interest.
7. Revenue in sports comes from:
A. Tickets, sponsorships, broadcasting
B. Coaching only
C. Refereeing only
D. Playing only
Answer: A
Rationale: Multiple income sources exist.
8. Fixed costs in sports include:
A. Stadium maintenance and salaries
B. Ticket sales
C. Concessions
D. Merchandise sales
Answer: A
Rationale: Fixed costs do not change with output.
9. Variable costs in sports include:
A. Costs that change with events
B. Stadium rent only
C. Coaching salary only
D. Branding only
Answer: A
Rationale: Variable costs depend on activity.
10. Market equilibrium occurs when:
A. Supply equals demand
, B. Supply exceeds demand
C. Demand exceeds supply
D. No demand exists
Answer: A
Rationale: Equilibrium balances market forces.
11. Sports broadcasting rights are:
A. Payments for airing sports events
B. Coaching rights
C. Playing rights
D. Refereeing rights
Answer: A
Rationale: Media pays for broadcast access.
12. Ticket pricing strategy involves:
A. Setting optimal prices for revenue
B. Coaching decisions
C. Refereeing rules
D. Playing rules
Answer: A
Rationale: Pricing maximizes revenue.
13. Subsidies in sports are:
A. Government or external financial support
B. Player bonuses only
C. Coaching fees
D. Referee payments
Answer: A
Rationale: Subsidies support sports development.
14. Monopoly in sports occurs when:
A. One dominant team or league controls market
B. Many teams compete equally
C. No teams exist
D. All teams are equal
Answer: A
Rationale: Monopoly means dominance.
15. Oligopoly in sports refers to:
A. Few dominant leagues or teams
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY
1. Sports economics studies:
A. Financial behavior in sports industry
B. Playing techniques
C. Coaching only
D. Refereeing only
Answer: A
Rationale: It analyzes money and resources in sports.
2. Demand in sports economics refers to:
A. Fan interest in sports products
B. Athlete training
C. Stadium construction
D. Refereeing decisions
Answer: A
Rationale: Demand is consumer interest.
3. Supply in sports economics is:
A. Availability of sports events and goods
B. Coaching methods
C. Refereeing rules
D. Player skills
Answer: A
Rationale: Supply is what is offered.
4. Opportunity cost means:
A. Value of next best alternative
B. Total profit
C. Total revenue
D. Ticket price
Answer: A
Rationale: It is what is given up.
5. Elasticity of demand measures:
A. Responsiveness to price changes
, B. Stadium size
C. Coaching ability
D. Refereeing accuracy
Answer: A
Rationale: Elasticity shows sensitivity.
6. In sports, demand is highest when:
A. Teams are successful and popular
B. No games are played
C. Prices are high only
D. No fans exist
Answer: A
Rationale: Success increases interest.
7. Revenue in sports comes from:
A. Tickets, sponsorships, broadcasting
B. Coaching only
C. Refereeing only
D. Playing only
Answer: A
Rationale: Multiple income sources exist.
8. Fixed costs in sports include:
A. Stadium maintenance and salaries
B. Ticket sales
C. Concessions
D. Merchandise sales
Answer: A
Rationale: Fixed costs do not change with output.
9. Variable costs in sports include:
A. Costs that change with events
B. Stadium rent only
C. Coaching salary only
D. Branding only
Answer: A
Rationale: Variable costs depend on activity.
10. Market equilibrium occurs when:
A. Supply equals demand
, B. Supply exceeds demand
C. Demand exceeds supply
D. No demand exists
Answer: A
Rationale: Equilibrium balances market forces.
11. Sports broadcasting rights are:
A. Payments for airing sports events
B. Coaching rights
C. Playing rights
D. Refereeing rights
Answer: A
Rationale: Media pays for broadcast access.
12. Ticket pricing strategy involves:
A. Setting optimal prices for revenue
B. Coaching decisions
C. Refereeing rules
D. Playing rules
Answer: A
Rationale: Pricing maximizes revenue.
13. Subsidies in sports are:
A. Government or external financial support
B. Player bonuses only
C. Coaching fees
D. Referee payments
Answer: A
Rationale: Subsidies support sports development.
14. Monopoly in sports occurs when:
A. One dominant team or league controls market
B. Many teams compete equally
C. No teams exist
D. All teams are equal
Answer: A
Rationale: Monopoly means dominance.
15. Oligopoly in sports refers to:
A. Few dominant leagues or teams
