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 Achievement
  Criteria	Superior	Above average	Average	Below 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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