Question

What major economic event led to the professionalization of sport?

What sports were the first to develop in Europe and the U.S. as professional pastimes?

35. In the end, it is the (i)_______________of (ii)____________ for a good that will determine who pays the majority of a tax. When the demand for a good is very elastic, (iii)_______________ will pay the majority of any tax. When the demand for a good is very inelastic, (iv)_______________will pay the majority of any tax no matter which side of the market the tax is placed upon.

i.)__________________

ii.)_________________

iii.)_________________

iv.)__________________

Answer 1

Ques ) What major economic event led to the professionalization of sport?

Professionalism in sports was a consequence of rise in commercialism back in the 1960s–1970s and the invention and use of TV to view sports. Further mega sporting events like the World cup, FIFA, ICC, Rugby World Cup, etc also led to professionalisation of sport.

Ques )What sports were the first to develop in Europe and the U.S. as professional pastimes?

Baseball was known as the "National Pastime" in the US traditionally. It was also the 1^st team sport played professionally in the US.

Apart from this, lacrosse was actually the 1^st homegrown sport in the US, although this is not a very commonly known fact.

Later, US also propagated basketball which began in 1891 in the U.S.

Europe started with gymnastics and sports in the 18-19^th century. Cricket and Golf were one of the oldest sports with rules dating back to 1727 and 1744 respectively. It was further followed by basic 7 rule boxing in 1743.

Ques 35

i) Demand

ii) Consumers

iii) Producers

iv) consumers