1. Tony Waiters (wearing a jacket with the Burnaby's Cliff Ave FC crest, so the picture here must have been taken during his tenure as the Cliff Ave technical director) was a great Canada soccer manager, having won Soccer Bowl and being the only manager so far to take Canada national team to the World Cup final tournament (Canada is going to the next two tournaments, and Tony always maintained that it was his dream that people stop calling him the most successful Canada manager ever as other would achieve more than him). He asked me once, "Why do you think so many very good soccer players come from Africa?" Tony's own answer was very much an economist's answer. Can you figure it out? Really good soccer player almost all compete in the same market, European soccer leagues. This means that the answer to his question is not on the demand side - if you come to play in, say, Germany you expect the same rewards as the player comparable to you whether they come from Nigeria, Croatia, or Brazil. It must be that the African supply of players is greater. Recall how we figured out what determines the supply and explain, "Why do so many very good soccer players come from Africa?" (5) you think

1. Tony Waiters (wearing a jacket with the Burnaby's Cliff Ave FC crest, so the picture here must have been taken during his tenure as the Cliff Ave technical director) was a great Canada soccer manager, having won Soccer Bowl and being the only manager so far to take Canada national team to the World Cup final tournament (Canada is going to the next two tournaments, and Tony always maintained that it was his dream that people stop calling him the most successful Canada manager ever as other would achieve more than him). He asked me once, "Why do you think so many very good soccer players come from Africa?" Tony's own answer was very much an economist's answer. Can you figure it out? Really good soccer player almost all compete in the same market, European soccer leagues. This means that the answer to his question is not on the demand side - if you come to play in, say, Germany you expect the same rewards as the player comparable to you whether they come from Nigeria, Croatia, or Brazil. It must be that the African supply of players is greater. Recall how we figured out what determines the supply and explain, "Why do so many very good soccer players come from Africa?" (5) you think

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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