Week 2 – Quiz: The Economics of Golf

1) What is IMG and why is it historically significant? *

An international golf measurement system

The sports management company Mark McCormack founded around Arnold Palmer, creating the modern model for athlete endorsements

A European golf tour organization

2) What is the economic model that allows professional golf tours to operate? *

Government subsidies and ticket sales

Television rights fees and corporate sponsorships, attracted by golf's wealthy, affluent audience

Membership fees from professional golfers

3) What was the significance of the LIV Golf tour's emergence in 2022? *

It created a second major championship

It offered Saudi sovereign wealth fund money to players, disrupting the PGA Tour's monopoly and creating an ongoing governance crisis in professional golf

It changed the rules of golf for the first time since 1744