WorksheetsChapter 2 - Risk Managment
Total questions: 22
Worksheet time: 12mins
Amount of money remaing from revenues collected and after ALL expenses are paid
Market Share
Profit
Profit Motive
Sales
Money a business receives from sale of goods or services
Profit
Market Share
Profit Motive
Revenue
Using resources in a way that result in the greatest profit
Revenue
Profit
Profit Motive
Sales
The study of how goods ande services are produced, distributed and consumed are known as
Revenue
Economics
Profit Motive
Form Utility
______utility is the event itself like a game.
Form
Possession
Time
Place
______utility is accepting different forms of payment to contribute to the success of the event.
Form
Possession
Time
Place
The possibility of financial gain OR loss at your event
Human risk
Risk
Pure risk
Controllable risk
A risk associated with storms and tornados.
Human risk
Risk
Natural risk
Controllable risk
A risk that COULD result in a gain or a loss.
Speculative risk
Human Risk
Natural risk
Controllable risk
This type of risk can ONLY result in a loss
Speculative risk
Human Risk
Natural risk
Pure Risk
This risk CAN be prevented and the likeliehood reduced.
Speculative risk
Human Risk
Controllable/Insurable
Pure Risk
A TARGET MARKET is the market
that has the best sales.
that I can make the most $$$.
is the market that I'm trying to reach (age, income, gender)
what you aim for when shooting a bow and arrow
A ticket scalper
sells tickets before the event usually on line.
sells tickets at the gate of the event.
doesn't sell tickets.
sells tickets outside the event grounds at an inflated price.
A ticket broker
sells tickets before the event usually on line.
sells tickets at the gate of the event.
doesn't sell tickets.
sells tickets outside the event grounds at an inflated price.
The best strategy for getting tickets that are in high demand is
to log information in to the website ahead of time
to wait until the exact time of getting on
ask your friend to order them for you
examine various websites.
One benefit of a corporation buying a suite at the stadium is
you get more food
the corporation pays in advance; this ensures revenue before the event
I can see the game closer
A service sometimes found at an event is
hot dog
programs for purchase
t-shirt
a person to direct you to your seat
A product sometimes found at an event is
service counter representative
janitorial staff
t-shirt
a person to direct you to your seat
Macroeconomics of the event looks at
the entire league of the team
one particular team in the league
Microeconomics of the event looks at
the entire league of the team
one particular team in the league
A "PRO" to cultural entertainment opportunities is
expands the market to other territories
keeps all revenue at home
A "CON" to cultural entertainment
opens doors to other territories
govenment interference and complications
