Short Essay #1
Covering Chapter 1
– Hypothetical scenario
Suppose that the market price of vegetables recently increased substantially this year. Develop a two-page essay discussing what might have caused this. In your essay, you are required to address the following questions.
1. Are there any changes in the supply or/and demand for vegetables this year?
2. Will this pattern persist next year?
3. Can ‘receiving profits by charging a higher price’ be justified from a biblical perspective? (This should not exceed 100 words)
Please note that I will not review your actual essay before your final submission.
– All papers must use a minimum of 3 sources. You must cite only peer-reviewed journal articles although the textbook is an acceptable source (however, keep in mind that the textbook is not peer-reviewed resource though).
– You MUST NOT cite online sources or any articles without year of publication and author’s name. Also, you should not cite Wikipedia and investopedia.
– All papers must follow all APA requirements. (I am only looking for accuracy of APA formatting for references)
Also, please refer to the following link, to learn more about APA style and formatting.
https://owl.english.purdue.edu/owl/resource/560/01/
– Do not just provide your opinions but your essay must demonstrate mastery and accuracy of relevant economic concepts and theory to receive full credit
– Minimum words requirement: 800 words (not including abstract, title and reference pages)
Refer to the rubric below:
Grid View
List View
Exemplary Accomplished Developing Beginning
Knowledge
Points Range:32 (40%)- 32 (40%)
Demonstrates mastery and accuracy of concepts, terms and theories selected by the student without error
Points Range:25.6 (32%)- 28.48 (35.6%)
Demonstrates mastery and accuracy of most of the major concepts, terms, and theories with several errors
Points Range:22.4 (28%) – 25.28 (31.6%)
Demonstrates moderate understanding of a few of the concepts, terms and theories, but lacks a mastery of the majority
Points Range:0 (0%) – 22.08 (27.6%)
Demonstrates basic understanding of the concepts, terms, and theories, but lacks any mastery at all
APA formatting
Points Range:8 (10%) – 8 (10%)
The use of APA formatting is accurate with no error.
Points Range:6.4 (8%) – 6.4 (8%)
The use of APA formatting is mostly accurate with a few minor errors.
Points Range:4.8 (6%) – 4.8 (6%)
The essay has too many errors in the use of APA formatting.
Points Range:0 (0%) – 0 (0%)
The essay does not use APA formatting.
Writing & Organization
Points Range:24 (30%)- 24 (30%)
The structure of content is strong and helps readers move through the text smoothly. The content contains effective transitions between paragraphs. Minimum words requirement is met
Points Range:21.36 (26.7%) – 21.36 (26.7%)
The structure of content has a clear organizational structure, and helps readers to understand fairly easy, but slightly lacks effective transitions between paragraphs. Minimum words requirement is met
Points Range:16.8 (21%) – 18.96 (23.7%)
The structure of content is understandable, but significantly lacks effective transitions between paragraphs. Minimum words requirement is not met
Points Range:0 (0%) – 16.56 (20.7%)
The content lacks coherence, and requires readers to reread substantial portions. Minimum words requirement is not met
Word Count
Points Range:8 (10%) – 8 (10%)
Word count is greater than 800
Points Range:6.4 (8%) – 6.4 (8%)
Word count is greater than 700, but less than 800.
Points Range:4.8 (6%) – 4.8 (6%)
Word count is greater than 600, but less than 700.
Points Range:3.2 (4%)- 3.2 (4%)
Word count is less than 600
Biblical Integration
Points Range:8 (10%) – 8 (10%)
Paper identifies and integrates biblical principles into the decision making process in an appropriate and insightful manner
Points Range:6.4 (8%) – 6.4 (8%)
Paper identifies and integrates biblical principles into the decision making process mostly in an appropriate and insightful manner
Points Range:4.8 (6%) – 4.8 (6%)
Paper identifies and integrates biblical principles into the decision making process mostly in an appropriate and insightful manner
Points Range:0 (0%) – 0 (0%)
Paper does not identify and integrate biblical principles into the decision making process
NAME:SHORT ESSAY_RUBRIC
Solution Preview
Suppose That the Market Price of Vegetables Recently Increased Substantially This Year
The concept of demand and supply of a product or a service in an economic viewpoint, explains how both supply and demand also relate their relationship to prices in the market (Marshall, 2009). This law is an essential economic principle since it justifies, for instance, when supply exceeds demand for a product or service or vice versa and what will happen to the prices.
(1,042 words)