The economic factors affecting the football business or market sector.
1. Business /Market sector definition;
a. Primary sector; Raw materials, Agriculture, forestry, fishing, mining (oil, Coal etc, quarrying), power production
b. Secondary sector; processing and production, manufacturing
c. Tertiary: services; Financial services, wholesale, retail, personal services, Power distribution.
2. HAVE I JUSTIFIED MY CHOICE????
3. WHAT BUSINESSES ARE IN YOUR SECTOR??
a. SIZE OF MARKET
b. LEVELS OF COMPETTITION – new entrants are easy/hard?
c. Terms of trade in your market
d. Economic policy has a BIG/SMALL effect?
4. What economic theories apply?? Natural monopoly? Emerging? Dying?
5. What is happening now? Look over the last decade and the next decade.
Research into your market sector – identify the size of the market, the levels of competition, the way the market operates in terms of trade, and how it is influenced by economic policy.
Appraising theories applicable to your chosen market sector – refer to economic theory and its impact on the business sector you have chosen
Analysis of your chosen market sector - analyse the data, and report on the key economic factors which will dictate how this market copes within its economic environment.
Word Count: 2500