London What caused the great economic crisis of and which policies were the right reaction? Why is there still a gender pay gap and one for ethnic minorities? Why, as economies grow richer, are people often not any happier?
In modern age, sports has become completely economic-oriented. Either it is interest of public or enthusiasm of players, all are inclined towards that game which is helpful in money transactions.
Now-a-days everybody wants to be associated with some sport or the other because of the money involved but at the same time not all make it. Greed of players is increasing day by day. On the other hand, the money involved has resulted in better teams and performances.
Our country once again shows its place on the map of world sports. Sport is both a consumer good and a consumer of goods. Numerous recent studies attest to the rapid development of the sports economy as an independent branch of economics, and have highlighted the amount of turnover generated by sport; the building of infrastructure, the manufacture of capital and consumer goods, the provision of services, the dissemination of information, taking from sports events, advertising expenditure and sponsorship budgets.
Several years ago, a number of highly instructive studies were undertaken in some countries. In the United Kingdom, for example, the total amount of resources provided by sport to the State is times greater than expenditure on sport in the budget.
A Netherlands study seeking to evaluate the impact of sport on the economy showed that the elimination of sporting activities would lead to the loss ofjobs and a drop in domestic consumption of billion guilders.
In France inthe Federation of Sports Equipment Industries comprised 6, businesses employing somepersons.
In general it is estimated that the sports economy is worth between 1 and 2 per cent of GNP in various countries, and is tending to grow faster than most other sectors. At the same time, this economy is becoming increasingly international, claiming a growing share of world trade.
Furthermore, it should be noted that such figures do not take into account the very considerable contribution of countries volunteers active at all organizational levels of sport. With regard to the funding of physical and sporting activities, attention should be drawn to the low level of resources available in the least developed countries, and to the tendency of public authorities in numerous countries, including many industrialized countries, to cut their sports budgets and place greater reliance on extra budgetary types of funding; lotteries and betting on sport.
Ensuring that all have an opportunity to engage regularly in physical and sporting activities must be seen as an integral part of development.
Sports and Economic Growth: Quite often the statistics under discussion are player salaries, team payrolls, revenues from merchandising, promotions and broadcast rights and their distribution free agency, arbitration and salary caps.
This theme may be examined from the twin angles of the contribution of sport to development, and the impact of the level of development on the promotion of sport. Various studies and research papers have highlighted the considerable advantages to be derived from the regular and moderate practice of sport as an integral component of one's life style; improved health, less absenteeism and fewer work accidents, better social integration, and a greater variety of recreational opportunities for the individual and the family.
Studies in Canada have shown the measurable economic impact of sporting activities for all on health spending. The marketing of sports items and the use of sport for selling other types of goods, in particular through publicity and sponsorship is a notable and steadily growing phenomenon.
As demonstrated by a study published several years ago, the underdevelopment of sport is both an aspect and a consequence of economic underdevelopment. The consequence of under development in sport is a "brain drain.
Are there not more urgent and pressing priorities?Philosophy and economics, also philosophy of economics, studies topics such as rational choice, the appraisal of economic outcomes, institutions and processes, and the ontology of economic phenomena and the possibilities of acquiring knowledge of them..
It is useful to divide philosophy of economics in this way into three subject matters . J.C.H. Jones’s article “The Economics of the National Hockey League” ()purpose is to explain through simple micro economics that the prime motive of professional hockey team owners is .
View Essay - The Economics Of Sport and Leisure from ECON at University of Mississippi. The Economics Of Sport and Leisure Content • Sport and Leisure industries • Demand and supply analysis. Get these free sample essays from Essay Writer – for UK students and academics – free sample essays covering a wide range of subject areas and topics.
For a more pronounced enumeration of how corruption is expressed in the sports context, see Wolfgang Maennig, “Corruption in International Sports and How it May Be Combatted,” International Association of Sports Economists Working Papers, No.
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