Question

use economic theory to explain differences in players salaries across different type of sports,and why overcoming discrimination is important for sports?

Answer 1

The difference in players salaries across different type of sports is effectively explained by economic theory of demand , supply , marginal benefit .

In some sports like football we look at the salaries of just the world's best players . They earn tons of money due to scarcity of supply of such players and high marginal benefits from those players . People are ready to buy tickets to such football games even if the tickets cost very high .

So the popularity or demand for a certain sport determines the salary of players . Some sports do not get such lime light and viewer preference . So the players of such sports have lower income .

Overcoming discrimination is important for upliftment of every kind of sport . If a particular sport has no demand at all and also high supply of players , then due to meager salaries such players go out of work or abandon the sport , this can lead to extinction of certain sports . Also it will lead to crowding of players in just a few sports which have high demand .