Final: Terms 26-50 Flashcards
Daily Fantasy Sports
DFS exploded in 2015 by DraftKings and Fanduel
(Merged in 2017)
Demand
The amount of product consumers are willing to buy at a given price
Law of Demand
Consumers will demand less of a product as its price increases, and will demand more of a product with lower prices
Supply
The amount of product that suppliers are willing to produce and sell at a given price
Diversion
A distraction from a course/activity
-For many, watching sport is a diversion from stress/boredom
Entitlement
A guarantee of access to benefits based on established rights
-Companies sponsoring teams, events in exchange for cash
Environmental sustainability
Developing strategies and practices that create a world economy that is sustainable for the planet
Equity in Athletics Disclosure Act
This act requires colleges that receive federal funding to publicly report their spending patterns of their athletic departments to ensure transparency and equality
European Club System (Soccer)
The hierarchical structure of European football clubs
-Clubs competing in domestic leagues (premier league, etc.) to qualify for larger scale competitions (champions league, etc.)
Eustress
A good level of stress that improves players’ and spectators’ motivation/fulfillment
Extrinsic reward
Rewards given to one person by another person/entity
FIFA Women’s World Cup
2015 FIFA Women’s WC where the U.S. beat Japan set the record for being the most watched soccer match in U.S. history with 750 million viewers
Free Agency
Ability of players to sell their services to another team of their choosing after fulfilling their contract with the original team
Salary Caps
A league-wide limit on the amount a team can spend on players’ salaries
-Agreed upon by management and players through collective bargaining
-To ensure teams with more money don’t have a competitive advantage
Globalization of sport
The process by which sports, sporting events, and other sporting related events/products have transcended national boundaries to become international in nature
Governance of High School Sports
In the early 1900s, individual state associations formed the governance of interscholastic athletics, with Georgia establishing the first high school athletic association in 1904
-The Midwest Federation of State High School Athletic Associations (MFSHSA) formed in 1921, and changed to the National Federation of State High School Athletic Associations (NFHS) in 1923, which grew to include all states and non-sporting extracurriculars in 1970
Virtual Reality
VR has been expanding and adopted in the sporting world, especially for training athletes
Historically Black Colleges and Universities (HBCUs)
Higher education institutions created prior to 1964 with the purpose of educating Black Americans
-Due to low-resources, HBCUs have been adversely affected by many NCAA policies calling for grater investments to support academic/athletic facilities, etc.
Tribal Colleges and Universities (TCUs)
There are 37 TCUs in the United States and Canada with the purpose of educating indigenous people and preserving languages/cultures
International Management Group (IMG)
Formed in 1960 by Mark H. McCormack
-First agency dedicated to representing professional athletes
International Olympic Committee (IOC)
Nonprofit, international federation responsible for the governance of the Olympic games
Interscholastic Athletics
Contributes over US $15 Billion to the sport industry annually, and employs over 300,000 coaches/administrators
International Paralympic Committee (IPC)
Nonprofit, international federation responsible for the governance of the Paralympic games
Intrinsic Reward
Reward from within
-Personal satisfaction/fulfillment from engaging in a particular activity/task
