Economics of Sports

Type of salary cap that has few (if any) exceptions to exceed the cap limit.

What is charged to a team when the exceed the salary cap or the salary threshold.

When employees and management negotiate working conditions.

When employees walk off the job.

The amount offered.

The amount of money a team is allowed to spend on its roster for each season.

When supplies/resources are limited.

Typically, the point at which price is set.

When ownership does not allow the employees to perform their work tasks.

When a player is free to negotiate a contract with any team, but there current team can match.

The degree to which your fans desire your product(s).

When a athlete is designated by its current team to be paid the average of the top 5 salaries.

Type of free agent that allows the current employer to match an offer and retain his/her rights

Which of the following is the professional basketball union.

When product supply is greater than consumer demand.

An athlete that is free and able to sign with any team.

When consumer demand exceeds product supply.

Period of time when players are able to negotiate contracts with teams.

Written, legal contract for a period of time agreed upon by management and employees.

A type of salary cap that allow significant exceptions to exceed the cap limit. Used by the NBA