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In: Economics

Using supply and demand, with the 4 major north american sports league. From most expensive to...

Using supply and demand, with the 4 major north american sports league. From most expensive to least expensive ticket prices it goes #1 NFL #2 NHL #3 NBA #4 MLB. Why is that the case? Include one other sports related source.

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Expert Solution

The above mentioned sports league belongs to all those sports that are a major hit in the morthamerica starting with;
#1 NFL : The National Football League is a professional American football league consisting of 32 teams, divided equally between the National Football Conference and the American Football Conference
#2 NHL : The National Hockey League is a professional ice hockey league in North America, currently comprising 31 teams: 24 in the United States and 7 in Canada. The NHL is considered to be the premier professional ice hockey league in the world, and one of the major professional sports leagues in the United States and Canada.
#3 NBA : The National Basketball Association is a men's professional basketball league in North America; composed of 30 teams. It is widely considered to be the premier men's professional basketball league in the world.
#4 MLB : Major League Baseball is a professional baseball organization, the oldest of the four major professional sports leagues in the United States and Canada. A total of 30 teams play in the National League and American League, with 15 teams in each league.

ALL of these sports league belongs to the sport that most of the north americans are passionate about so the demand to watch the matches of these are high and most of these leagues happens to be once in a year so the demand is huge and the supply for such demand is not optimum and it is very evident from the above situation that prices of these tickets will be maximum and no matter the prices go to its maximum the supporters of the game will eventually pay the price to see the game .

Now coming to the point of most expensive to least expensive the sports in north america here people are more fond of Football then hockey but in comparision to basket ball many people prefer hockey (ice hockey) as may be basket ball being more teenager game than again baseball is nurtured in cooperation of canada and america and because of this intervention government is possible and may that could be the reason for fall of price in the tickets of baseball.

Now we see that baseball and cricket are a bit identical infact the rules are more simple than cricket and even the grounds for baseball do not require major specification and thus many of such factors including the demand in public for their favourite sport kills the demand for cricket in north america hence we understand how  most expensive to least expensive ticket prices it goes here.


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