SEM I 1.01, 1.02 & 1.03 Review

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 taxes, and high interest rates.

• Increased job creation and more consumer spending.

• Higher tax rates and fewer financial investment opportunities.

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.

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 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

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.

What are the three core benefits customers benefits from when purchasing sports products?

• Achievement, entertainment, and health.

• Entertainment, achievement, and fiscal opportunities.

• Health, purchasing power, and attracting tourist dollars.

• Tourist dollars, fiscal benefits, and entertainment.

What is meant by the term "fiscal impact?"

• Include spectators and participants.

• Achievement, entertainment, and health.

• Increased job creation and more consumer spending.

• Government income generated from sales tax, parking fees, and food service tax.

One characteristic of event marketing involves promoting and selling which product or service?

• Tangible product

• Nonperishable item

• Physical appeal

• Unique experience

One of the main differences between professional and amateur athletes is that for professionals, the game is often what to the players?

• Free of charge

• Closed to the public

• Played for enjoyment

• Their occupation