If an Athlete Were to Pick the Sport Where It

question 58

Multiple Choice

If an athlete were to pick the sport where it would be the easiest to move to a desired city it would be

• A)NBA basketball.
• B)NFL football.
• C)Major League Baseball.
• D)European soccer.

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Definitions:

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service fails to reach or cannot reach its equilibrium.

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price.

Elastic

A characteristic of supply or demand that indicates a high sensitivity to changes in price.

Inelastic

Describes a situation where a change in price leads to a relatively small change in the quantity demanded or supplied.