My exquisite wall by David Smith

What are the reasons why demand has risen while prices have increased? (10 marks)

dbs71269 — 2024-10-07 15:55:19 UTC

sarah & jude

2024-10-08 14:51:39 UTC

the increase in ads and different marketing & the football league first division being revamped lead to an increase in demand. there is also brand loyalty and the fact that the fans want to support their home team.

Anaya and Hamza

2024-10-08 14:51:59 UTC

Loyal customers

Old football league first division was revamped

Easily accessible

Ghassem and Mohammed

2024-10-08 14:52:13 UTC

the reason behind the rise of demand is due to the increase in popularity and the amount of current fans. The increase in price is due to the inelastic nature of the sport and the loyalty of the fans and how far they are willing to go and pay to watch their supported team.

Ghassem and Mohammed 2

2024-10-09 10:19:48 UTC

the reason behind the rise of demand is due to the increase in popularity and the amount of current fans which is due to the growing nature of sports and the diffirent marketing ways of it. it reached a point where football became more than just a hobby. The increase in price is due to the inelastic nature of the sport and the loyalty of the fans and how far they are willing to go and pay to watch their supported team. the reason behind the inelastic nature of it is the loyalty of the fans. As of how its going now, I suspect that the future demand and price will increase due to new fans or would stay the same. Source:https://www.economicshelp.org/microessays/equilibrium/price-elasticity-demand/

sarah & nutsa

sa2321 — 2024-10-09 10:21:53 UTC

there will be high demand and not enough supply. the high demand will lead to an increase in the prices of the ticket and increased revenue for selling at higher price since the supply is lower than demand. which shows the inelasticity of the tickets

Kelly and Shanzeh

km778 — 2024-10-09 10:24:17 UTC

The increase in demand may have been influenced by efficient marketing and remodeling the first division football team. The demand is price inelastic as the raise in price does not reduce demand. The reason for its inelasticity has to do with the fact that they have a strong customer base so regardless of the price increase, fans are still willing to pay for the tickets. In the following years, the demand is likely to increase but with insufficient supply available.

Anaya and Hamza

ah2023_1 — 2024-10-09 10:32:32 UTC

The demand has increased because of the old football league division being remodelled in 1992. Buying the tickets is also easy as you can just by them over the counter which also increased the demand as tickets are easily accessible.The demand is price inelastic as football has a loyal customer base as the customers want to support their home team and would be willing to pay a higher price just to support their team and watch their favourite players live.

Brittany , hamad , Bander

2024-10-09 10:34:11 UTC

brand loyalty which is powered by team promotion with efficient and popular advertising

trendy clips create conversations between fans which further increases demand

increase in demand makes team increase ticket amounts increasing supply leading to even more, demand here is considered inelastic as even if price increased demand still increases and so does supply the managment tries finding bigger arenas to fit more people, demand will be even more in the future with the managment trying to satisfy that demand with even more tickets meaning more supply the sport is evergrowing and getting more and more popular eventually demand will outweigh supply and price elasticity of demand will stay inelastic as tickets price increase either through managment or resale culture

2024-10-09 10:34:26 UTC

Hamoudeh & Ayoush

2024-10-11 09:25:58 UTC

demand for premier league football matches is inelastic since fans have been watching it for years now and have loyalty to their clubs therefore even when the tickets prices increase, they would still watch it. Moreover, the market share and popularity of the premier league has risen a great deal since the 1992 therefore it has a wider fan base and more people watching it since it has given many exciting matches which has caused it to be well known and attractive for football admirers. Furthermore, in 1990 you could buy a ticket to watch Liverpool for 4 pounds however these prices have increased since by 975% and you wouldn’t be able to buy them from a counter but rather wait in a waiting list containing 28000 fans. In the future it is suspected that the demand for tickets will continue rising as fans still admire the game and younger generations take after their parents in that sort of manner.

Mone Aziz

2024-10-11 09:42:58 UTC

Strong fan loyalty makes demand rise while the price has increased because football fans are committed to their favorite team with an emotional attachment. The loyalty of football fans has a huge power because they sometimes donate to their team even when some of them cannot afford matches. In that sense, they are willing to pay for their team's games even when the price increases. The same thing may happen to other kinds of fans

Other than that, there is a scarcity of supply since each stadium has a limited number of seats. So, supply sometimes cannot keep up with demand.

In the future, we think the price will keep going up with an increase in demand, especially in big matches. It is because the number of football fans is increasing, and they get loyalty to their team when their team wins a game.

Mone

2024-10-11 09:46:16 UTC

Ahmed attia

2024-10-12 16:11:38 UTC

Bader Yousef Ghafeer

2024-10-14 15:19:04 UTC

Rashid Mirah Tapi

2024-10-14 15:27:40 UTC

I believe that the major factor is that football is now gaining popularity than ever. Nowadays, football is being shown in nearly every sports channel worldwide and that was not the case in the past. That results in supporters demanding more and more tickets. The more people who demand tickets will lead to less supply from the football clubs as tickets will run out. More demand will lead to higher prices This will cause supply to be less than demand which is the cause of inelasticity in tickets.