Question

According to the Sports Business Journal, Levy Restaurants is the leading purveyor of premium food at major sports venues. Levy has fed the masses at the Super Bowl, the Grammys, the Kentucky Derby, and the NBA All-Star Game. It catered last year's World Series and the MTV Video Music Awards, plus hundreds of regular-season games of football, baseball, basketball, hockey, and NASCAR races. So when the company purchased 150 pounds of steak and chicken, eighty pounds of noodles, ingredients for 48 gallons of shrimp bisque, 400 sushi rolls, and 25 pounds of jambalaya and succotash, it was more than likely a _____ decision.

Answer 1

Levy Restaurants' decision to purchase a large amount of food is in line with the company's role in catering for major events and is influenced by the economics of professional sports events, which compete within fixed household entertainment budgets and may lead to a reallocated spending that can negatively affect the local economy.

Step-by-step explanation:

According to the information provided, Levy Restaurants made a significant purchase of 150 pounds of steak and chicken, eighty pounds of noodles, ingredients for 48 gallons of shrimp bisque, 400 sushi rolls, and 25 pounds of jambalaya and succotash to cater to events. This large-scale procurement is typical for a company that caters to high-profile events and sports venues. The decision to make such a purchase would be influenced by the expectation of a large number of event attendees and the need to provide a variety of food options to cater to diverse tastes.

The economic development strategy of attracting professional sports events involves a reallocation of household entertainment spending, as discussed by Siegfried and Zimbalist. They argue that a fixed household budget for entertainment leads to a situation where spending on professional sports events comes at the expense of other local entertainment options. This can potentially cause the local economy to shrink due to the lower multiplier effect associated with professional sports spending compared to other forms of local entertainment.

Answer 2

When the company purchased 150 pounds of steak and chicken, eighty pounds of noodles, ingredients for 48 gallons of shrimp bisque, 400 sushi rolls, and 25 pounds of jambalaya and succotash, it was more than likely a programmed decision.

Step-by-step explanation:

Since Levy Restaurants is a major premium food provider at mega events. It's purchase of 150 pounds of steak and chicken, eighty pounds of noodles, ingredients for 48 gallons of shrimp bisque, 400 sushi rolls, and 25 pounds of jambalaya and succotash is more likely to be a programmed decision which it has taken to cater to the needs of a customer.