SEM I 1.01 Review

A unique characteristic of the sports industry is that it seeks to attract markets that will perform which action?

• Demand mostly tangible products
• Have consumers with artistic talent
• Include spectators and participants
• Are concerned with environmental issues

When a professional football expansion team is established in a community, which economic impact might happen?

• Business closures, job layoffs, and high inflation rates
• More tourism, lower tax rates, and high interest rates
• Increased job creation and more consumer spending
• Higher tax rates and fewer financial investment opportunities

Surrounding communities benefit from professional sports teams by which action occurring?

• Endorsing local political candidates
• Attracting tourist dollars
• Hiring handlers to make sure athletes behave
• Making seat licenses available to season ticket holders

The core benefits to customers who purchase sports products include entertainment, health, and which other component?

• Promotion
• Independence
• Achievement
• Adaptability

Which is a characteristic of the sports or event industry?

• Manages a worldwide media network
• Communicates with a limited audience
• Provides products that are different for each consumer
• Employs only those people who have athletic ability

The chamber of commerce for a large city estimated the income for the city generated by the sales tax, parking fees, and food service tax collected as a result of a rock concert. This is an example of which impact?

• Total
• Indirect
• Fiscal
• Direct