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QUESTION

micro short essay week 1

In chapter 2, you learned a variety of fundamental economic concepts. Identify two of the following principles, and apply them to the real-world situations, using at least 300 words. Also, provide discussions on how biblical principles are integrated into those principles.  (Due: Day 4 by 11:59pm; word count: minimum 300 words)

  • People face scarcity and costly trade-offs 
  • People engage in rational making and marginal thinking
  • People respond predictably to changes in incentives
  • Specialization and trade can make everyone better off
  • Markets can improve economic efficiency
  • Appropriate government policies can improve market outcomes
  • Government policies may help stabilize the economy
  • Increasing productivity leads to economic growth
  • Levels of AchievementCriteriaSuperiorAbove averageAverageBelow average

    Analysis 

    Weight 50.00%

    90 to 100 %

    Developed content with a clear point of view and draws insightful and consistent conclusions defended by relevant economics concepts and theory

    80 to 89 %

    Developed content with a clear point of view with some gaps and draws fairly consistent conclusions defended by relevant economics concepts and theory

    70 to 79 %

    Developed content with an ambigous point of view with some gaps and draws consistent conclusions, but not defended by relevant economics concepts and theory

    0 to 69 %

    Does not develop content with a clear point of view and conclusions are inconsistent and illogical.

    Organization

    Weight 30.00%

    90 to 100 %

    The structure of content is strong and helps readers move through the text smoothly. The content contains effective transitions between paragraphs.

    80 to 89 %

    The structure of content has a clear organizational structure, and helps readers to understand fairly easy, but slightly lacks effective transitions between paragraphs

    70 to 79 %

    The structure of content is understandable, but significantly lacks effective transitions between paragraphs

    0 to 69 %

    The content lacks coherence, and requires readers to reread substantial portions

    Words Length 

    Weight 20.00%

    90 to 100 %

    Word count is greater than 300

    80 to 89 %

    Word count is greater than 200, but less than 300.

    70 to 79 %

    Word count is greater than 100, but less than 200.

    0 to 69 %

    Word count is less than 100
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