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10/27/22, 7:49 PM Economics: Opportunity Cost

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Economics: Opportunity Cost

Opportunity cost - Rochelle

Unsatisfactory 1 point - 1%

Needs Improvement 2 points - 75%

Excellent 3 points - 100%

Opportunity cost for Rochelle is incorrectly calculated or missing and the units of measurement are correct or incorrect.

Rochelle’s opportunity cost is correctly calculated, but the units are incorrect or missing.

Rochelle’s opportunity cost is correctly calculated with the correct units.

Opportunity cost - Larry

Unsatisfactory 1 point - 1%

Needs Improvement 2 points - 75%

Excellent 3 points - 100%

Opportunity cost for Larry is incorrectly calculated or missing and the units of measurement are correct or incorrect.

Larry’s opportunity cost is correctly calculated, but the units are incorrect or missing.

Larry’s opportunity cost is correctly calculated with the correct units.

Comparative advantage

Unsatisfactory 1 point - 1%

Needs Improvement 2 points - 75%

Excellent 3 points - 100%

The individual with the comparative advantage in production of food is incorrectly identified or is missing.

The individual with the comparative advantage in production of food is correctly identified, but other incorrect individuals are also identified.

The individual with the comparative advantage in production of food is correctly identified.

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