SEM I 1.01 Quiz

Which is a characteristic of the sports or event industry?

• Communicates with a limited audience

• Provides products that are different for each consumer

• Manages a worldwide media network

• 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

• Direct

• Indirect

• Fiscal

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

• Have consumers with artistic talent

• Include spectators and participants

• Are concerned with environmental issues

• Demand mostly tangible products

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

• Hiring handlers to make sure athletes behave

• Attracting tourist dollars

• Making seat licenses available to season ticket holders

• Endorsing local political candidates

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

• Increased job creation and more consumer spending

• Business closures, job layoffs, and high inflation rates

• Higher tax rates and fewer financial investment opportunities

• More tourism, lower tax rates, and high interest rates

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

• Promotion

• Achievement

• Independence

• Adaptability

What are the three core advantages customers receive from sports products?

• Achievement, entertainment, adaptability

• Adaptability, sponsorship, expansion

• Health, entertainment, achievement

• Health, adaptability, entertainment

Communities economic impact when attracting a professional football expansion team is

• higher tax rates and fewer financial investment opportunities.

• more tourism, lower tax rates, and high interest rates

• business closures, job layoffs, and high inflation rates

• increased job creation and more consumer spending.

What is the term associated with the collection of tax revenue, such as, food service tax, sales tax, and parking fees when a community puts on a rock concert?

• Total Impact

• Indirect Impact

• Fiscal Impact

• Direct Impact

How does surrounding communities benefit from a professional baseball team.

• Attracting tourist dollars

• Endorsing local political candidates