ECO 100 Principles of Economics Tradeoffs Paper
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ECO 100 Principles of Economics Tradeoffs Paper
I don’t know how to handle this Economics question and need guidance.
Let’s talk about two tradeoffs we face every day: how we spend our time and money.
We can spend our income, or save it for investing. We can spend time working to earn an income, or we do other things that we broadly call leisure.
Reply to these prompts to start your discussion:
Describe a tradeoff you have made in terms of your income or your time. What choice did you make with your money or time? Why did you make that choice?
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Just that I’m using the company WalMart and the grocery pickup service as the topic.
The paper instructions: First, it describes the price elasticity of supply of demand for your product or service. Second, it explains how two non-price factors impact the demand of your chosen product or service. Third, it explains how two non-price factors impact the supply of your chosen product or service. Fourth, it defines the industry and the market equilibrium associated with the product or service. Fifth, it predicts the effect of changes in supply and demand on the market equilibrium. Finally, it describes the decisions related to supply and demand for the product or service that you would make based on the predicted changes in supply and demand on the market equilibrium.
More specific instructions:
a)Determine the extent to which the supply and demand of your chosen product or service are sensitive to changes in price by applying the concept of elasticity. In other words, what is the price elasticity of supply or demand for your product or service?
b)select two non-price factors that impact the demand of your chosen product or service. Justify
c) select two non-price factors that impact the supply of your chosen product or service. Justify
d) define the industry related to your chosen product or service and the market equilibrium associated with the product or service
e)predict the effect of changes in supply and demand on the market equilibrium
f) Based on the predicted changes, what decisions related to supply and demand for your product or service would you make.
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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ECO 100 Principles of Economics Tradeoffs Paper