Economics The English Premier League Has A Essay

PAGES
2
WORDS
706
Cite

Economics The English premier league has a large television audience and inspires a large amount of devotion among fans that might not have the interest of the sporting world. The English premier league is well-known from London, to other parts of the world.it is very hard to find someone who does not have a favorite football team within the English premier league. Despite all this the we4alth that has come with the famous competitions does not go down to the fans. For instance the lucrative TV deals do not trickle down to the fans. There exists a situation that is very troubling when it comes to the ticket prices. The ticket prices a have gone so high such that even the most loyal fans are no longer able to afford them. For example a ticket for an Arsenal match costs a whooping 126 pounds and there are instance it can go up to $200.the English premier league was once a workingman's game but from the trend it is slowly becoming a form of entertainment that is excluding people.

There is a large income gap that exists between fans and teams which goes ahead to clearly show the financial inequality that exists around the world. The worst part of the situation is that fact that the reasoning behind these exorbitant tickets does not add up.as a matter of fact the fans across England are now demanding a stop to the increasing costs of tickets. Something should be done to this increasing prces.in economics we can look at this situation with the income elasticity of demand. This measures how responsive demand of a particular thing is to a change in the income of those who are in demand of the good. When we look at the income...

...

People are now earning less compared to before. If the ticket prices continue to go up then no one will be bale to afford them and hence no one will buy the tickets. Price elasticity of supply shows the responsiveness of quantities of goods supplied to the changes in their prices. When it comes to tickets their elasticity of supply can be termed as elastic. This is because with an increase in price there will be decline in the demand of the tickets. Therefore it is very important for officials to look at this matter so as not to lock out fans from the game they love most. If they continue increasing the prices of tickets then no one will be able to afford and hence the stadiums will be virtually empty.
Adam Smith's "Law of Population"?

According to Adman Smith's law on population he states that there is need for more workers since profits that are accrued are being spent on other things like machinery. Since many workers are competing for jobs the wages tend to go down. This creates more for people who are running the business. According to Thomas Malthus's Principle of Population the growing population rates contribute to a rise in supply of labor which would inevitably lower wages. Malthus had the fear that the…

Cite this Document:

"Economics The English Premier League Has A" (2013, November 14) Retrieved April 20, 2024, from
https://www.paperdue.com/essay/economics-the-english-premier-league-has-127135

"Economics The English Premier League Has A" 14 November 2013. Web.20 April. 2024. <
https://www.paperdue.com/essay/economics-the-english-premier-league-has-127135>

"Economics The English Premier League Has A", 14 November 2013, Accessed.20 April. 2024,
https://www.paperdue.com/essay/economics-the-english-premier-league-has-127135

Related Documents

EPL Understanding English Premier League (EPL) football in India in terms of media commentaries and how they determine image of English football in this country India is a cricket crazy country but for the last few years football has become a popular game. Particularly EPL has established its clubs and academies at different parts of India. EPL has been popular in India and there is significant increase in the viewership of EPL

It's well-known that soccer, like religion, can provoke violence like hooliganism and tramplings at overcrowded, large stadiums, and this is what many Americans assume it is all about. "But soccer has also proved unique in its ability to bridge differences and overturn national prejudices. The fact that the World Cup could even take place in South Korea and in Japan, as it did in 2002, was a victory for tolerance

Business of Soccer
PAGES 10 WORDS 4107

Business of Soccer The specific word "soccer" was developed in the 1880s in the Oxford University. There was a custom there to use "er" to the end of words they used in a short form. Thus the short name for rugby football had been shortened to "rugger." The word soccer was the reply given by a student named Charles Wreford Brown, when he was questioned about his wish to play "rugger."

Regulation of the NFL From
PAGES 34 WORDS 10136

On the other hand, we might be able to "incubate" a cable network by playing a Thursday night series of cable games, and such a network could be a long-run success that would strengthen our product as well." (Tagliabue, 2004) Tagliabue states that prior to proceeding with a new package it is necessary to ensure that this new package is based on "sound television premises and that it is structured

Sports-Related Concussion and Statistical Study Neurocognitive performance Performance and game management Elite-Level Sports Contest Design Game Planning Significant Usage Tactical Responsibilities Advantages and disadvantages Importance of statistical study within professional sports The importance of quantitative data has assumed much importance in the professional sports environment during the last few years. To obtain meaningful forms of raw data that represents underlying patterns and trends, it is important to extract the data by using methods that are statistically and mathematically valid. Professional

The Canadian dollar currently trades around $0.95 U.S. dollars, but this has fluctuated significantly in recent years. Should the Canadian dollar drop to the $0.80 or $0.85, the team still needs revenues sufficient to cover players' salaries and other U.S.-denominated expenses. The price point is lower than that of the BC Lions, which reflects that the club wishes to have strong attendance and be competitively priced against their main