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Introduction to Sports Economics

Economics

Fundamental concepts regarding the business and financial aspects of professional sports.

sports business finance economics

8 Questions Easy Ages 11+ Aug 3, 2026

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About this Study Set

This study set covers Economics through 8 practice questions. Fundamental concepts regarding the business and financial aspects of professional sports. Every question includes the correct answer so you can learn as you go — pick any format above to get started.

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Browse all 8 questions from the Introduction to Sports Economics study set below. Each question shows the correct answer — select a study format above to practice interactively.

1 What is the primary source of revenue for most major professional sports leagues?

A Ticket sales
B Broadcasting rights
C Merchandise sales
D Parking fees

2 In sports economics, what is a 'salary cap'?

A A limit on the total amount a team can spend on player salaries
B The maximum height a player can be
C A tax paid by fans to enter a stadium
D A limit on how many games a team can win

3 Which term describes the money paid to a sports team by a company to display their logo on a jersey?

A Salary
B Sponsorship
C Dividend
D Interest

4 What happens to the price of tickets for a high-demand sporting event according to the law of supply and demand?

A Prices stay the same
B Prices decrease
C Prices increase
D Prices are regulated by the government

5 What is a 'free agent' in professional sports?

A A player who plays for free
B A player whose contract has expired and can sign with a new team
C A player who is injured
D A mascot for a sports team

6 What is the main purpose of a 'naming rights' deal for a stadium?

A To honor a famous athlete
B To increase the ticket price for every seat
C To generate revenue by naming the venue after a brand
D To reduce the cost of building the stadium

7 What does the term 'gate receipts' refer to in sports economics?

A The total cost of stadium security
B Income generated from ticket sales for an event
C The cost of maintaining the grass pitch
D The price of snacks sold at the stadium

8 What is a 'franchise' in the context of professional sports?

A A sports equipment store
B A professional sports team that is a member of a league
C A ticket printing company
D A type of sports insurance

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