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Sports management review
Sports management review
90 terms
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Questions
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1
what rule in some professinal sports places a limit on the total compensation a team can use for players' salaries
annual salary
world cup salary
salary cup
tax writeoff
2
workers involved in interstate commerce, including all pro sports teams except MLB are covered by which?
civil rights restoration act
national labor relations act
sherman antitrust act
equity in athletics discloser act of 1994
3
total revenues minus total cost equals profit
True
False
4
what produce estimates of the change in the net economic activity in a community that occures because of spending
tangible goods
supply and demand
economic impact studies
5
what is the definition of profit
money generated by a high profile college teams
total revenue minus total cost
money left over after coaches and player salaries are paid
revenue minus total cost
6
what are the 3 categories of entries on a balance sheet
assets or finacial resources
profits and revenue
the owners share of resources
liabilities or obligations to pay others and owners equity
7
the economics of sport is the study of how people in the sport industry deal with ___
scarcity
hardships
lawsuits
profit
8
what components make up each pro sport league?
a central administrative unit that negotiates contracts and agreements
a social media marketing team
a board of governors with team owners
a commissioner
9
which of these helps to provide predictability and consistency to judicial decisions?
models
precedent
examples
legal standards
10
what effect did free agency have on pro sports?
it lowered expectations
it lowered salaries
it raised salaries
it raised expectations
11
to offset rising cost what sourses have athletic administrators concentrated on to increase revenue for their college
corporate sponsorships
private donations
television contracts
merchendising
12
what can states now legalize since the US supreme court declared the (PASPA)
sport betting
misconduct
title V
due process
13
who broke the color barrier in professional baseball in 1947?
freddy muphy
jackie robinson
billie jean
your mom
14
exchange of goods and services by people and organizations is the definition of ____
economic interaction
integrity
defamation
15
marketing advice, buisness consulting and finacial planning is an example of what
services
intangible product
intangible good
service
16
pick 3 examples of revenue sources besides ticket sales
travel fees
parking fees
consessions
luxury suite rentals
17
enactments made by a legislature and expressd in a formal document are considered ___
statutes
information
wavers
due process
18
what 3 reasons do sports need television?
enhance enjoyment
increase how much teams can charge sponsors
to convince people to go
increase revenue
19
invasion of privacy and defamation are examples of what?
negligence
international torts
tort law
ADA
20
what is the purpose of the player draft?
provides opportunity to aquire new talent
bring popularity to the team
fix records with new players
distributing talent among all leauge members
21
____ revenues are generated when leagues and teams grant approval for manufacturers to use their name and logo
licensing
contract
income
22
___ is an accumulation of rules and regulations that govern our behavior, buisness relationships and personal rights
law
reputation
tort
23
why was the MLB granted an exemption to antitrust law?
baseball was local in nature
baseball did not involve production of tangible good
24
select two womens leagues formed in 1996 that exist today
national womens volleyball league (NWVL)
womens national basketball association (WNBA)
national womens soccer league (NWSL)
national womens softball league (NWSL)
25
which of the following are future challeges facing professional sports
managing new technology
maintaining reasonable labor management harmony
dealing with globalization
maintaining revenue
26
the National Hockey League was the second pro sport league that formed in 1917
False
True
27
a soccer ball, football helmet, or pair of basketball shoes is an example of a what
tangible good
good
tangible goods
goods
28
what aspects of pro sports distinguish it from other industries?
interdependance
labor management relations
structure and governance
role of electronic and new media
29
pro sports can be traced to ancient -
greece
times
france
people
30
___ prohibits gender discrimination in any educational program or activity that recieves federal finacial assistance
title IV
title IX
title X
31
what has played a crutial role in popularity and team revenue?
internet
radio
network, cable and satellite television
books
32
___ focuses on whether a person or persons failed to perform appropriatly based on an individual relationship
tort law
integrity
tort
33
what types of sport organizations are considered state actors?
private organizations wit h many ties to the state gov.
athletic programs in public schools
state university athletic departments
federal, state, and municipally owned parks and recreations
34
briefly describe some of the professional leauge issues that are subject to collective bargaining
dicipline procedures
a salary (minimum and maximum)
working conditions and benifits
drug testing
35
what 3 player personnel positions that are available in pro sports?
player personelle (training, medical, team support)
social media staff (networking, websites, social media platforms)
coaching staff (player education and relations)
video support staff (stadium and facility staff)
36
the (PASPA) stands for Professional and Amateur Sports Protection Act
True
False
37
those in buisness positions in pro sport organizations have great control over team performance issues
False
True
38
____ is the failure to act as another reasonably, prudent person would have acted in a similar circumstances
negligence
integrity
defamation
39
the increase in production of a product as its price increases and the decrease in production as its price falls
law of demand
market shortage
market equilibrium
law of supply
40
what exemption pertains to MLB but not other pro leauges?
Sherman aintitrust act
trust act
jackson antitrust act
MLB trust act
41
what are the 2 functions of finacial management?
gaining finacial resources
how to split finacial resources
what to do with finacial resources
determining how to procure additional finacial resources
42
___ has helped elevate professional sport beyond comp and athleticism into entertainment
instagram
television
youtube
tiktok
43
what was the first team sport to employ professional athletes
baseball
hockey
basketball
football
44
what is luxury tax?
standard taxes
device used to tax teams that spend the most
device used to tax teams that spend the least
device used to tax other buisnesses
45
what are at least 3 buisness related positions available in pro sports?
ticket sales
promotions
game experience
advertising
media relations
corporate sales
46
to prove negligence what elements must a plaintiff prove?
injury
breach of duty
proximate cause
duty
47
what % of money generated by NCAA D1 mens BB tourney will be distributed to organizational members? who gets money?
85% D1 universities
75% D1 universities
75% NCAA universities
70% D1 BB team
48
a player can sell their services to another team with limited or no compensation to the past team is called?
freelance
agency
free agency
firm agency
49
as a fan of a professional or intercollegiate sport twam, yoy buy a personal seat license, you are entitled to ____
buy a season ticket
buy a ticket in a specific section
buy a ticket for a particular seat
50
the Americans with Disibilities Act is a ___ statute and californias fair pay to play act is a ___ statute
state, federal
federal, state
51
what is the study of how people within the sport industry deal with scarcity
economics of sport
sport economics
52
what factor has the most influence on popularity, player salaries, free agency and growth of coorprate involvment?
television
billboards
social media
newspaper
53
the most powerful and widely used used model of economics is the supply-demand model
True
False
54
internships do NOT play a significant role in helping students deicide which career to pursue
False
True
55
identify 3 sources of revenue for intercollegiate athletic programs
private donations
television rights
merchendise sales
corporate sponsorships
student fees
ticket sales
56
what is the goal of player personnel positions in sport organizations?
selling the most merchendise
bringing in the biggest audience
making the most money
putting the best possible team on the court or field
57
what is the largest single source of revenue in collegiate athletics
NCAA mens basketball championship
NCAA womens volleyball tourny
NCAA FBS championships
58
the purpose of ___ law is to remedy a wrong done to one person or persons by another person or organizations
independance
tort
law
59
the Sherman Antitrust Act is to prohibit companies from dominating their respective markets acting as monopolies
True
False
60
the law of ___ states that consumers will demand less of a product as its price increases and more as its price falls
demand
indemand
61
the net profit or loss is called the ___ line
top
first
last
bottom
62
___ ensured that a law shall not be unreasonable
tort law
sport betting
due process
63
which of these is a distinguishing feature of professional sport
interdependance of the teams
tendency of franchise owners to abandon cities
amount of money the athletes earn
number of spectaors
64
which of these is an expense typically incurred by sport organizations
cost of an econimic impact study
cost of salaries
cost of sport facilities
65
____ is the body of law derived from the judgements and decrees of the courts
tort law
common law
due process
66
___ represents a negative false statement that results in damage to a persons reputation pride and integrity
pride
defamation
integrity
67
which equation is used to calculate the profit level for a sport organization?
total cost = total revenue - profit
total cost - total revenues = profit
profit - total revenues = total cost
profit = toal revenues - total cost
68
in 1869 the ____ became the first pro baseball team
cincinnati red stockings
brooklyn dodgers
chicago cubs
texas rangers
69
what term did davis harris use to describe the notion that teams must share revenues in the intrest of leauge stability
league think
league thoughts
league stink
thinking league
70
name three pricipals of the professional sport industry
labor
governance
structure
management
71
____ are used to excuse an organization for its own act of negligence
waivers
judges
tort
72
what economic concern might lead to a decrease in fan intrest in MBL
the increase in merchendise sales for some teams
the practice of revenue sharing
the increase in TV revenue for some teams
a widening gap between high and low revenue teams
73
educated readers must ask ___ conducted the research and ____ the study was conducted
who and how
who how
74
professional teams within a single league __ and __ to ensure finacial sucsess for all teams
compete & cooperate
rise and fall
supply and demand
75
the tort of ___ strives to protect a persons right to his or her own reputation, pride and itegrity
defamation
law
breach of duty
76
___ is the failure to act as another reasonable, prudent professional would have acted in a similar circumstance
ignorance
negligence
77
revenue and expenses are 2 categories of entries on an income statement
False
True
78
what process helps control salaries in the NFL and NBA
economic interaction
free agency
resrve clause
collective bargaining
79
a general sport management degree will usually suffice for obtaining a career in finance with a sport organization
True
False
80
what are the four primary sourses of revenue for professional sport teams?
gate receipts
media contracts
licensing and merchendising
sponsorship
81
the study of the behavior of individual buisnesses and households is called ___
micromanagement
microeconomics
82
what premise differentiates pro team sport from any other buisness organization
working with broadcasting companies
recruiting
social media
the need for teams to simultaneously compete and work in partnership
83
why is it important for professional teams to share the revenue generated by the league?
revenue sharing equalizes team revenue
allows teams in smaller markets to compete finacially with big markets
84
the purpose of tort law is to remedy a wrong
True
False
85
what form of exculpatory agreement is frequently used in sport management ?
waivers
statutes
tort law
86
in general, stadiums in professional sports are fully funded by the teams
False
True
87
the price at which the quantity demanded equals the quantity supplied is referred to as ___
income statement
market equilibrium
economic impact study
balance sheet
88
market ___ is the price at which the quantity demanded equals the quantity supplied
equilibrium
stocks
profit
89
what governs conduct of the federal and state goverments and provides for the fundimental rights of private citizens
united states consitiution
house of representatives
state government
federal government
90
___ is one of the few academic disiplines that can be applied to almost any human action
chemistry
economics
standards