Principles of Economics Assignment Paper
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Principles of Economics Assignment Paper
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Assignment 1: Principles of Economics DUE SUNDAY 5- 11-14 by 12 NOON
Must be APA 6 Edition Write a two to three (2-3) page paper in which you:
- Identify a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-4.
- In the first two (2) paragraphs, identify at least four (4) key points that the article highlights.
- In the next three to five (3-5) paragraphs, apply two (2) of the following economic concepts (supply and demand, market structures, elasticity, and costs of production) to the key points that you highlighted in Question 2.
- In your concluding paragraph, state whether you agree or disagree with the author’s comments. Provide a rationale for the response.
- Use at least three (3) quality resources in this assignment with one (1) being your article.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA 6 Edition
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
- The specific course learning outcomes associated with this assignment are:
- Apply the underlying principles of economics and the economic way of thinking to assess market issues and make business decisions.
- Analyze the dynamics of supply and demand to anticipate market equilibrium.
- Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies
- Describe the impact of various forms of competition on business operations with emphasis on perfect competition. Use technology and information resources to research issues in principles of economics. Write clearly and concisely.
fulcrum represention in a supply chain
What does the fulcrum represent in a supply chain? The fulcrum is the point at which we commit to source/produce/ship the product in its final form and where decisions on volume and mix are made. The idea being that if that point of commitment can be delayed as long as possible then the closer we are to make- to-order, with all the benefits that brings. The problem for many companies is that the fulcrum in their supply chains is more like that shown in Figure 4.6(c) below.
Here the fulcrum is a long way from demand, i.e. the forecasting horizon is long, necessitating more inventory and capacity to balance against demand. How in reality do we move the fulcrum closer to demand? The answer in effect is to improve the visibility of demand along with enhancing the velocity of the supply chain. In other words if we can have a clearer view of real demand in the final marketplace, rather than the distorted picture that more typically is the case, and if we can respond more rapidly, then a more effective matching of supply and demand can be achieved. Thus it can be argued that visibility and velocity are the foundations for a responsive supply chain. Figure 4.7 indicates some of the key drivers of velocity and visibility in a supply chain and these will be discussed in later chapters.
Principles of Economics Assignment Paper
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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