Like most anything else in life, economics plays a part in both staging and entering road races. It is indeed a purchase on the part of a consumer, the runner, and a sale on the part of the seller, the event directors. As a race director myself, I know well how much of a concern economics can be in staging an event. The list of costs associated with a race are many. In addition, professionals in race management and finish line timing often must be hired.
Big races offer prize money and appearance fees to the top athletes.
It all adds up, and very quickly. Directors of small events working with limited budgets often try to keep costs as low as possible and pass the savings along to the runner in the form of low entry fees. Runners expecting a well organized event with few frills generally will go home happy if these modest expectations are met. Full time management professionals organize and direct these events. And make no mistake, these are not just races, they are certified events.