Authorization

To get a ticket to Wimbledon you must be rich, patient or lucky

ECONOMICS IS ALL about allocating scarce resources. Usually that is done by pricing. If demand for strawberries exceeds supply, prices will rise. Customers may switch to raspberries, or farmers may plant more strawberries. But some markets are more complex. Take those for tickets to popular events—like Wimbledon. The tournament is played over a fortnight each July at the All England Lawn Tennis & Croquet Club, which has a fixed capacity. Raising prices until demand met supply would exclude most tennis fans, tarnishing the tournament’s image. A price overshoot would leave some seats empty, ruining the atmosphere.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Октябрь 2019    »
ПнВтСрЧтПтСбВс
 123456
78910111213
14151617181920
21222324252627
28293031