Sports Marketing

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Across
  1. 2. Point- The point of equilibrium represents a theoretical state of rest where all economic transactions that “should” occur, given the initial state of all relevant economic variables, have taken place.
  2. 4. Cap - The NBA uses this cap, meaning that teams were allowed to exceed the cap in order to retain the rights to a player who was already on the team.
  3. 6. - NHL Union
  4. 10. - means an agreement under which an individual is employed, or agrees to render services, as a player on a professional sports team, with a professional sports organization, or as a professional athlete
  5. 11. Sheet - a contract offered to a restricted free agent by a team other than the one for which he played during the prior season.
  6. 13. A shortage is a situation in which demand for a product or service exceeds the available supply.
  7. 15. Scarcity in economics refers to when the demand for a resource is greater than the supply of that resource, as resources are limited.
  8. 17. - when owners won't let players play.
  9. 20. Resources- materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.
  10. 21. - MLB Union
  11. 23. Agency - a professional athlete (such as a baseball player) who is free to negotiate a contract with any team.
  12. 25. - demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time
  13. 26. A surplus describes the amount of an asset or resource that exceeds the portion that's actively utilized.
Down
  1. 1. - excluding or tending to exclude all others; shutting out other considerations, happenings, existences, etc
  2. 3. - a club, society, or association formed by people with a common interest or purpose.
  3. 4. Cap - an agreement or rule that places a limit on the amount of money that a team can spend on players' salaries. It exists as a per-player limit or a total limit for the team's roster, or both.
  4. 5. Player - an athlete who is both the best player on their team and one that the team can build their "franchise" around for the foreseeable future.
  5. 7. Cap - The NFL uses this cap, meaning that no team is allowed to exceed the cap limit for any reason.
  6. 8. - NFL Union
  7. 9. Free Agent - can sign an offer sheet with any team, but the player's original team can retain him by matching the terms of that offer. The original team is said to have the “right of first refusal.”
  8. 12. Free Agent - is free to sign with any team.
  9. 14. - a new team in a sports league, usually from a city that has not hosted a team in that league before, formed with the intention of satisfying the demand for a local team from a population in a new area.
  10. 15. - some professional athletes in the United States began to go on this for their respective sports contests in response to the police shooting of Jacob Blake in Kenosha, Wisconsin.
  11. 16. - not limited to only one person or organization, or to one group of people or organizations
  12. 17. Tax - luxury tax, excise levy on goods or services considered to be luxuries rather than necessities.
  13. 18. Bargaining - Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, ways to balance work and family, and more.
  14. 19. - is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
  15. 22. - NBA Union
  16. 24. - a stock of a resource from which a person or place can be provided with the necessary amount of that resource.