Which of the Following Is/are Ways in Which Sports Leagues

question 17

Multiple Choice

Which of the following is/are ways in which sports leagues have attempted to promote competitive balance?

• A) The reverse-order draft.
• B) Revenue sharing.
• C) Salary caps.
• D) All of the above.

Comprehend how prices coordinate the actions of buyers and sellers in a market economy.

Identify factors that cause changes in supply, demand, equilibrium price, and equilibrium quantity.

Analyze the conditions necessary for the invisible hand of market prices to work properly.

Understand the nature of market organization and how competition and property rights foster economic efficiency.

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Definitions:

Human Capital Theory

A theory that explains differences in wages as the result of differences in the individual characteristics of the workers.

Dual Labor Market

The division of the labor market into two segments—the primary and secondary labor markets.

Gender Gap

The difference in opinions, attitudes, wages, or behaviors between men and women, commonly observed in socio-economic and political contexts.

Biological Sex Characteristics

The physical and physiological traits, such as chromosomes, hormones, and reproductive organs, that define male and female organisms.