Essential Matter of Adverse Selection Discussion Response
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Essential Matter of Adverse Selection Discussion Response
My example will focus on adverse selection, which is when one party has more knowledge on the quality of a certain product than another group. One example that experiences adverse selection are car repair shops. In this example, mechanics most likely have more knowledge than the buyers on car parts on car repairs. While many people rely on car repair shops and mechanics when needing to get their car repaired, there have been consequences for relying solely on the knowledge of these businesses.
Economics Discussion
- Suppose you have a market for sushi which is currently in equilibrium. Thinking of the supply and demand graph for this market, what would have to happen to cause both the equilibrium quantity of sushi in this market to rise and the equilibrium price of sushi in this market to rise? Is this even something that could happen? In your answer, please pay attention to and describe what would have to happen to the supply and demand. (You may of course elaborate with any hypothetical “real life” reasons for any changes in the graph too.)
- Jonny is planning his schedule for the weekend. One of his friends has invited him to a two-day camping trip to Catalina. Another friend has offered an invitation to binge watch the Lord of the Rings movie trilogy (extended edition) on Saturday. His cousin has invited him to a weekend beer tasting festival. Lastly, his uncle has invited him to a weekend of Dungeons and Dragons. Why might Jonny not be able to participate in everything this weekend? Is there a concept (or concepts) in Economics which best describe Jonny’s situation? If so, please list this concept(s) and describe completely.
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Essential Matter of Adverse Selection Discussion Response