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2 pages/β‰ˆ550 words
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Style:
MLA
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Mathematics & Economics
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English (U.S.)
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Econ 102.Economics essay box. Mathematics & Economics Essay

Essay Instructions:

Penn State, Abington College
Econ 102
Essay Response Instructions
As we discussed in class, please submit two responses to two separate readings (one response for each reading) from “Economics is Everywhere”. Each response should be 150-200 words for a total of 300-400 words. Please submit this on one Word document. I do not want two separate documents. I have set up a Dropbox in Canvas for you to submit your response. Please make sure your name is on the Word document itself as well as the file name.
Please note: If you do not have access to “Economics is Everywhere”, you can develop your own case by selecting an economics problem from the news, internet, or your own experience. Even if you have the book, you can use this option if you prefer. The only difference is that you may need to use more words to describe the case, perhaps another 25-50 words for each case.
Please identify the case by the case number (for example, 5.3) and provide a very brief summary of the case. No need to provide case details since I know the case number. You must use the 5th edition. Identify the case question(s) and respond with your answer. You should use the economics concepts you learned in the course and explain how they apply to the problem.
The due date for the essay is Sunday, April 26, 11:59pm. Please deposit the Word file in the DropBox in Canvas under modules. The essay is worth 5% of your final grade.
Essays submitted late will have a 50% reduction in the grade. Do not submit your essay as a text file. If the file is not submitted as a Word file, there will be a 25% reduction in the grade.
The responses will be graded using the following rubric:
Application of economic concepts to the response: 25%
Sentence structure, diction 25%
Organization, clarity of thought, logic and reasoning: 25%
Grammar, spelling, punctuation: 25%
Scale used:
5 – Outstanding (A)
4 - Above average (B)
3 – Average (C)
2 – Below Average (D)
1 – Unacceptable (F)
If you are not fully confident in your writing skill, I strongly suggest that you take your draft version and review it with someone from the Student Success Center. Also, please consult the website https://www(dot)grammarly(dot)com for additional guidance is preparing your response. Make sure you read your draft version out loud at least twice and edit before submitting for a grade.

Essay Sample Content Preview:
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Economics is Everywhere
Economics is everywhere, and it plays a significant role in our lives. Individuals can apply economic decisions to different activities in order to enhance the quality of their lives. For instance, the business world today is becoming highly competitive. For this reason, a vast majority of people looking to start business ventures are torn between setting up a virtual shop or opening a physical shop in their local towns. While each model has its advantages and disadvantages, e-commerce is becoming increasingly popular.
While the two types of businesses require capital, economic decisions involve the maximization of utility. Local businesses are limited to only those who are near them. However, online ventures break physical barriers. They are open to customers from all around the world. Most physical shops rely on the number of individuals passing through their street or the newsletters delivered to mailboxes. Also, the cost of opening a virtual shop is lower than that of starting a local business. Online businesses do not include costs such as rent, electricity and water bills, acquisition of property, and many others. A vast majority of real businesses have closing times, such as holidays and at night, among other times. On the other hand, online shops can operate 24 hours and throughout the year.
When deciding on whether to start an online or physical business, investors often consider other vital decisions to help them maximize their return on investment. They kind of business to start is a significant consideration since not all businesses are lucrative. Different marketing strategies, tools, and avenues can be utilized to...
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