The Economics of Professional Sports: If You Build It, Will They Come?
Glossary terms from:
An amount that must be paid or spent to buy or obtain something. The effort, loss or sacrifice necessary to achieve or obtain something.
The study of how people, firms and societies choose to allocate scarce resources with alternative uses.
Money paid regularly, at a particular rate, for the use of borrowed money.
The basic kinds of resources used to produce goods and services: land or natural resources, human resources (including labor and entrepreneurship), and capital.
The money a business receives from customers who buy its goods and services. Not to be confused with profit.
Activities performed by people, firms or government agencies to satisfy economic wants.