Final answer:
Certain games or events have higher ticket sales due to factors like popularity, event significance, and price elasticity of demand. Bands with large followings might have inelastic demand, allowing them to raise ticket prices. The introduction of professional sports could affect local economies due to changes in how household entertainment budgets are spent.
Step-by-step explanation:
The question of why certain games or events have higher ticket sales than others can be attributed to factors such as the popularity of the team or artist, the significance of the event, and the price elasticity of demand. For example, bands with fanatical followings may experience inelastic demand for tickets, meaning they could set higher prices without affecting the number of tickets sold until the venue reaches capacity. Conversely, economic impact considerations such as household entertainment budgets influence spending on games. If household budgets are fixed, spending on professional sports might mean less spent on other entertainment, affecting local economies. When pricing, entities should consider whether demand for their event is more or less elastic to optimize ticket sales and total revenue.
Additionally, Siegfried and Zimbalist suggest that the local economic multiplier for professional sports is lower compared to other local entertainment options, which could lead to a decrease in overall local economic growth with the introduction of a professional sports team. Thus, what impacts game attractiveness and resulting sales varies widely, depending on the unique characteristics of each event and market dynamics.