The Effects of the Economy on Nascar

589 Words2 Pages

At its core, economics is all about how people make choices. Choices are necessary because we live in a world of scarcity. Even the richest among us have to decide how to allocate our resources. When it comes to racing there are several ways that the economy can have an effect on it. The economic downturn that began in the late 2000s and persisted through the early 2010s has revealed how much NASCAR relies on a healthy, growing economy. When Jack Roush decides to have one less race team on the track, he does so not because he doesn’t like the team that is racing, but because fielding a race team is expensive. Mr. Roush has a lot of money, but he is limited to the number of teams he can put on the track. Race fans make choices too. We choose which drivers we will support, which manufacturers we will back, what races to attend in person, and how many races to watch on television. All of these choices are made because we don’t have the time, money or opportunity to watch every race, travel to every track, or back every driver. Therefore, we have to choose. All choices have costs associ...

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