Track and Field Economics

Description: Track and Field Economics Quiz
Number of Questions: 15
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Tags: economics sports track and field
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Which of the following is NOT a factor that affects the demand for track and field events?

  1. Popularity of the sport

  2. Economic conditions

  3. Weather conditions

  4. Availability of facilities


Correct Option: C
Explanation:

Weather conditions can affect the demand for track and field events, but they are not a factor that directly affects the economics of the sport.

How does the supply of track and field events affect the price of tickets?

  1. An increase in supply leads to a decrease in price

  2. An increase in supply leads to an increase in price

  3. Supply has no effect on price

  4. The relationship between supply and price is unpredictable


Correct Option: A
Explanation:

According to the law of supply and demand, an increase in supply leads to a decrease in price.

What is the main source of revenue for track and field events?

  1. Ticket sales

  2. Television rights

  3. Sponsorship

  4. Merchandise sales


Correct Option: B
Explanation:

Television rights are the main source of revenue for track and field events.

How do track and field events contribute to the local economy?

  1. Increased tourism

  2. Job creation

  3. Tax revenue

  4. All of the above


Correct Option: D
Explanation:

Track and field events can contribute to the local economy in a number of ways, including increased tourism, job creation, and tax revenue.

What are some of the challenges facing the track and field industry?

  1. Doping

  2. Lack of funding

  3. Aging facilities

  4. All of the above


Correct Option: D
Explanation:

The track and field industry faces a number of challenges, including doping, lack of funding, and aging facilities.

How can the track and field industry overcome these challenges?

  1. Increase funding for anti-doping programs

  2. Invest in new facilities

  3. Promote the sport to a wider audience

  4. All of the above


Correct Option: D
Explanation:

The track and field industry can overcome its challenges by increasing funding for anti-doping programs, investing in new facilities, and promoting the sport to a wider audience.

What is the future of track and field?

  1. The sport will continue to grow in popularity

  2. The sport will decline in popularity

  3. The sport will remain the same

  4. It is difficult to predict the future of the sport


Correct Option: D
Explanation:

It is difficult to predict the future of track and field, as the sport is influenced by a number of factors, including economic conditions, technological advancements, and cultural trends.

What are some of the economic benefits of track and field?

  1. Increased tourism

  2. Job creation

  3. Tax revenue

  4. All of the above


Correct Option: D
Explanation:

Track and field can generate economic benefits for a region by increasing tourism, creating jobs, and generating tax revenue.

What are some of the challenges facing the track and field industry?

  1. Doping

  2. Lack of funding

  3. Aging facilities

  4. All of the above


Correct Option: D
Explanation:

The track and field industry faces a number of challenges, including doping, lack of funding, and aging facilities.

How can the track and field industry overcome these challenges?

  1. Increase funding for anti-doping programs

  2. Invest in new facilities

  3. Promote the sport to a wider audience

  4. All of the above


Correct Option: D
Explanation:

The track and field industry can overcome its challenges by increasing funding for anti-doping programs, investing in new facilities, and promoting the sport to a wider audience.

What is the future of track and field?

  1. The sport will continue to grow in popularity

  2. The sport will decline in popularity

  3. The sport will remain the same

  4. It is difficult to predict the future of the sport


Correct Option: D
Explanation:

It is difficult to predict the future of track and field, as the sport is influenced by a number of factors, including economic conditions, technological advancements, and cultural trends.

What are some of the economic benefits of track and field?

  1. Increased tourism

  2. Job creation

  3. Tax revenue

  4. All of the above


Correct Option: D
Explanation:

Track and field can generate economic benefits for a region by increasing tourism, creating jobs, and generating tax revenue.

What are some of the challenges facing the track and field industry?

  1. Doping

  2. Lack of funding

  3. Aging facilities

  4. All of the above


Correct Option: D
Explanation:

The track and field industry faces a number of challenges, including doping, lack of funding, and aging facilities.

How can the track and field industry overcome these challenges?

  1. Increase funding for anti-doping programs

  2. Invest in new facilities

  3. Promote the sport to a wider audience

  4. All of the above


Correct Option: D
Explanation:

The track and field industry can overcome its challenges by increasing funding for anti-doping programs, investing in new facilities, and promoting the sport to a wider audience.

What is the future of track and field?

  1. The sport will continue to grow in popularity

  2. The sport will decline in popularity

  3. The sport will remain the same

  4. It is difficult to predict the future of the sport


Correct Option: D
Explanation:

It is difficult to predict the future of track and field, as the sport is influenced by a number of factors, including economic conditions, technological advancements, and cultural trends.

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