5.4 In July 2015, Beijing was selected by the International Olympic Committee as the host city of...
Question:
5.4 In July 2015, Beijing was selected by the International Olympic Committee as the host city of the 2022 Winter Olympics. The Beijing government is implementing several projects that will affect the demand and supply of the winter sport facilities. A variety of winter sports facilities will be built in Beijing for citizens to use. In the meanwhile, the city has implemented several promotional programs in schools, business districts and parks to encourage people to join winter sports. Are these two actions at odds with the goal of encouraging people’s participation in winter sports? As part of your answer, illustrate graphically the effects of both actions on the market for winter sport facilities.
Step by Step Answer:
Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster