Christina Heinritz
Insight AP Econ
Mrs. Straub
23 September 2015
U.S. Open
The crowd anticipated what the outcome would be as Serena Williams served match point. She tossed the ball up and smacked it down causing it to land rapidly on Venus’s side of the court. After a long volley, Serena hit the winning shot that won her the match at the U.S. Open against her sister, Venus. Although these women are sisters at heart, they remain opponents on the court each year when they go head-to-head at the Wimbledon championships. These strong-willed women both chose to specialize in tennis, which was an opportunity cost of not playing a different sport or working another job—expressing their determination to play this sport.
During this nail-biting battle between the Williams sisters, Serena had the absolute advantage in winning sets because she played for the same duration of time as Venus, but won more games than her(Schram). Venus and Serena both fought hard throughout the match, showing their hard labor. As Serena took the win, Venus took the loss against her younger sister with strength as she valued opinions of others without letting it affect her composure, therefore meaning she had the allocative efficiency in this matter. The importance of showing good sportsmanship is half the battle through the long volleys and difficult shots.
Serena and Venus pose for a photo before their match(Betancur).
The concessions at Wimbledon stocked up on food(see photo below) because they knew that more people would attend the match between Venus and Serena—since they are well-known in the female tennis world. This allowed Wimbledon to produce more food due to an economic growth. The concessions at Wimbledon exchanged food to consumers who were hungry after sitting and watching long days of tennis matches. Since there were more people at the Wimbledon match, more became hungry, causing an increase in demand due to the change in taste according to this short video(Schweigert). The direct competitors of the concession stands also stocked up on food in order to provide the same service to the Wimbledon attendees. However, consumers favored buying food while at the match because it was more efficient to get their food instantly, even though it meant paying a higher price than the competitive market down the street offered.
Amount of foods consumed during the Wimbledon tournament in 2015(“All”).
As the years go on, the Wimbledon concessions will continue to increase because of the demand from consumers that don’t want to travel to eat somewhere else. Although playing tennis year round is a huge commitment, the William’s sisters decided that tennis was the best option for their career. This decision comes along with challenging responsibilities and tasks, but they have managed to work their way up to being two of the best women’s tennis players of all time.
Works Cited
All England Lawn Tennis and Croquet Club. Wimbledon Hunger Game. 2015. Wimbledon. CNN. Web. 23 Sept. 2015.
Betancur, Kena. Serena and Venus Williams. 2015. U.S. Open. Bleacher Report. Web. 23 Sept. 2015.
Schram, Carol. "Serena vs. Venus: Scores and Highlights." Bleacher Report. Bleacher Report Inc., 8 Sept. 2015. Web. 23 Sept. 2015.
Schweigert, Keith. "US Open Concession Stand Menu." YouTube. Lancaster Online, 6 July 2015. Web. 23 Sept. 2015.
Christina, I like how you integrated a lot of the topics that we've gone over throughout the year. When you mentioned labor, it would've been helpful to conclude that labor is a resource, and that the sisters are using their labor to produce their "goods." "Goods" meaning wins and entertainment to viewers. Also, when you talked about Serena having the "absolute advantage," I understood what you were trying to say but think that maybe she doesn't have the absolute advantage considering she played against her sister, who also has great talent as you mentioned. I think it would've been better to talk about the comparative advantage, expressing that if the talented sisters were to work together in a doubles match, that they could use their resources (labor, skills, etc) to win against any competitor. I also liked your second your part of your essay where you started talking about the concessions and the demand, that was a good way to integrate the topics we've discussed. Overall, great job!
ReplyDeleteThis was a very interesting take on tennis from an economic standpoint. I liked how you compared advantages in terms of tennis itself. It was also interesting how the demand of food can increase depending on who is playing in the matches. You might be able to say that the demand for food during these matches were inelastic due to it being the only option.
ReplyDeleteHi Christina! I admire your ability to incorporate economics into a sports related story. Reading about it made me realize how much of our economy is affected by the sports and entertainment business. Because of your approach to writing this blog I was able to see the terms demand, absolute advantage and labor in a much different/relate way than previously. Overall well done!
ReplyDeleteI loved how your article tied to tennis! I never thought about all the things that these sisters could be doing besides tennis. They could be playing another sport or have a job at an office. However, it makes sense that they specialize in what they are good at. When I think of the US Open stadium and all of the seats they have, I can only imagine how much revenue from tickets they make-- especially when Venus and Serena are playing. I never considered the profit these stadiums make from food as well. Especially when these tennis matches get long, people will want more food and won’t want to leave the action. Great article!
ReplyDelete