Tradeoffs, Opportunity Costs, and Efficiency Essay
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Tradeoffs, Opportunity Costs, and Efficiency Essay
Assignment Details:
Please use your own experiences and the knowledge you have gained from this week’s readings to answer the following topics and questions. You may also use information that you find in the textbook, AIU’s library or the Internet to support your discussion. Make sure you use economic concepts in your main contribution.
Think of items that you have purchased in a market:
- Big ticket items like a house, or an apartment rental, or a car;
- Or ordinary items in your weekly budget, like coffee, tea, gasoline, bread, Milk, etc.
You can consider some of the following questions in your contribution.
- What price trends have you noticed over the last few years? Do the prices fluctuate? Have prices increased or decreased?
- How would you use what you have learned concerning Supply and Demand to explain these trends?
- Have there ever been any shortages or surpluses? How would you explain that?
Deliverable Length: 200 words (minimum)
Reading Assignment
Read the following chapters from the Macroeconomics textbook:
- Chapter 1
- Scarcity, p. 4
- Microeconomics vs. Macroeconomics, p. 4
- Positive vs. Normative Economics, p. 6
- Tradeoffs, Opportunity Costs, and Efficiency, pp. 19-21
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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