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Global Economic and Sport Business

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Global Economic and Sport Business
Introduction of the organization selected – Los Angeles Lakers The Los Angeles Lakers are an American professional basketball team based in Los Angeles, California. They play in the Pacific Division of the Western Conference in the National Basketball Association (NBA). The Lakers play their home games at Staples Centre, which is a multi-­‐purpose sports arena in Downtown Los Angeles, and which they share with their local NBA rival, the Los Angeles Clippers. The Lakers are one of the most successful teams in the history of the NBA, and have won 16 championships, their last being in 2010. As of 2012, the Lakers are the most valuable NBA franchise according to Forbes, having an estimated value of $900 million.

Discussion and evaluation of the price of tickets and products The most important products/services offered by the organisation Los Angeles Lakers is no doubt the tickets of their games. Besides, the team jersey is also a product that can be discussed here by the theories of demand because its market behaviour.

a) The determinants of demand for sporting events The first economic theory that is the most useful in
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