Summary

Sport and Leisure industries cover holidays, film, TV and cinema

The price and quantity of leisure events demanded or supplied is influenced by the interaction between the demand supply curves

Shifts in the demand curve such as increased incomes have increased the demand for leisure activities

Leisure activities tend to be income elastic as they have lots of substitutes and are luxuries

Holidays are income elastic as they take a large proportion of peoples incomes

Some areas of the leisure sector like holiday companies and cinemas are dominated by large companies which set prices

Exchange rates influence the demand for holidays. When the £ appreciates more people will go on holiday as it is relatively cheap.