CHS Sports Marketing Chapter 3

When the physical characteristics of a product are improved it is called _______.

Costs of a sports and entertainment events include

Preventing, reducing or lessening the negative impacts of risk is called risk management.

An activity that will produce money is called a(n)

The amount of satisfaction a person receives from the consumption of a product or service is__.

_______ is the possibility of financial gain or loss or personal injury.

Forecasting involves

When a business is legally responsible for losses suffered by an injured person, it is

The greatest reason for being in business is

Risk retention involves

The amount of satisfaction that people believe they receive from entertainment is

Risk cannot be controlled and must always be covered by purchasing insurance.

When a business does not make enough revenue to cover expenses, it operates at a profit.

Being proactive is the best way to manage risk.

The ____ shows assets, liabilities, and net worth.