... profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports has drastically changed over the last ten years. In the United States, we spend about 13% of all money on sports and entertainment. Sports ... creates the necessity of making choices among alternatives. The study of the manner in which choices are made is one of the central themes of economics (Basic Economics Richard S. Eckaus). Three fundamental kinds of questions must be resolved by an economy: 1. What goods will be produc...

• Word Count: 5027
• Approx Pages: 20
• Grade Level: High School

... for the Oakland Athletics, and his quest to beat the current system of baseball, in which money is everything when it comes to winning a World Series. He gets help from Pete Brand, a recent Economics graduate for Yale. Pete develops a system in which players are evaluated through extreme statistics calculations that determine how much value each player represents for their current salary. When ... , but Billy simply refused and told them to direct their questions about the system to Pete. Nothing about it was personal, but his scouts were offended by it and disagreed with his decision. H...

• Word Count: 2511
• Approx Pages: 10
• Grade Level: High School