Sports & Entertainment Means Business

An activity that will be produce money is called a(n)

• possession utility

• profit motive

• revenue stream

• economic utility

Forecasting involves...

• predicting costs and revenue

• pricing and ticket sales

• planning, distribution, price and advertising

• purchasing and promotion

_______ are a system of deciding what is right or wrong in a reasoned and impartial manner

• Ethics

• Capital

• Character

• Forecast

• Time Utility

Building a company without outside assistance is often referred to as crowdsourcing.

• True

• False

The best entertainment decisions are both effective and ethical

• True

• False

______ is a company's wealth in the form of money or property.

• Ethic

• Forecast

• Time Utility

• Capital

• Character

Risk retention means purchasing insurance to cover possible losses.

• True

• False

Profit is...

• None of the above

• revenue plus expenses

• the amount of money remaining after income is paid

• The amount of money remaining from revenues after all expenses are paid

When a business does not make enough revenue to cover expenses, it operates a profit.

• True

• False

Bringing a new professional team to a major city is an example of a(n)

• Speculative risk

• Controllable risk

• Insurable risk

• Uncontrollable risk