ABSTRACT
This chapter discusses sports and environment–two important pillars of society–through the study of economics. It summarizes fundamental economic principles, followed by a primer on the economics of sports. The chapter highlights the basic tenets of environmental economics. It considers the theoretical underpinnings and applications of the principles and extensions into the sporting world. The chapter offers a summary and suggest an agenda for further research and analyses. It deals with some of the principles of neo-classical economics and provides a primer on the economics of sports, including marketing and demographic considerations. Basic tenets of neoclassical economics begin with the premise that scarcity forces individuals, businesses or alternatives not chosen, in economic jargon; that there are usually tradeoffs risks involved when choosing one course of action over another. Environmental economics deals primarily with issues that compromise market competitiveness and efficiency. An important consideration of environmental economics is the identification and distribution of costs and benefits of problems and policies.
