Market Structures In an eight- to 10-page paper, describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, monopoly), provide a real-life example of each market, and respond to the following for each market structure: Indicate how high entry barriers into a market will influence: Long-run profitability of the firms Cost efficiency of the firms in the industry Likelihood that some inefficient firms will survive Incentive of entrepreneurs to develop substitutes for the product supplied by the firms Are competitive pressures present in markets with high barriers to entry? Explain. Describe which market structure you would prefer for selling products. Explain why and support your answer with the characteristics of that market. Describe which market structure you would prefer for buying products. Explain why and support your answer with the characteristics of that market. How does each market structure respond to price changes of the products that they sell? Explain whether each market structure will be selling elastic or inelastic products, and how this will affect the market price charged. How does the role of the government affect each market structure’s ability to price their products? How does international trade affect each market structure? The Market Structures Final Paper Must be eight to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.) Links to an external site. . Must include a separate title page with the following: Title of paper Student’s name Course name and number Instructor’s name Date submitted Must use at least five scholarly sources from the Ashford University Library in addition to the course text. The Scholarly, Peer Reviewed, and Other Credible Sources (Links to an external site.) Links to an external site. table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment. Must document all sources in APA style as outlined in the Ashford Writing Center. Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.
Rubric:
otal Possible Score: 29.00 Provides an Introduction and a Conclusion Total: 2.00 Distinguished – The paper is well organized with an introduction that provides sufficient background on the topic, a thesis statement, and a conclusion that is logical, smoothly flows from the body of the paper. Proficient – The paper is organized with an introduction that provides background on the topic, a thesis statement, and a conclusion that is logical but may not smoothly transition from the body of the paper. Basic – The paper is organized with an introduction and a conclusion, but the introduction and/or the conclusion require improvement. Below Expectations – The paper is loosely organized with an introduction and a conclusion, but the introduction and/or the conclusion require significant improvement. Non-Performance – The introduction and the conclusion are either nonexistent or lack the components described in the assignment instructions. Describes All Four Market Structures and Discusses Two of the Characteristics of Each Market Structure Total: 6.00 Distinguished – Thoroughly describes all four market structures and comprehensively discusses two of the characteristics of each market structure. Proficient – Describes all four market structures and discusses two of the characteristics of each market structure. Minor details are missing. Basic – Minimally describes all four market structures and somewhat discusses two of the characteristics of each market structure. Relevant details are missing. Below Expectations – Attempts to describe all four market structures and vaguely discusses two of the characteristics of each market structure; however, significant details are missing. Non-Performance – The description of the four different market structures and the discussion of two market characteristics are either nonexistent or lack the components described in the assignment instructions. Identifies One Real-Life Example of a Market Structure and Relates It to Each of the Characteristics of the Market Total: 4.00 Distinguished – Accurately and appropriately identifies one real-life example of a market structure and relates it to each of the characteristics of the market. Proficient – Appropriately identifies one real-life example of a market structure and relates it to each of the characteristics of the market. Minor details are missing. Basic – Identifies one real-life example of a market structure and somewhat relates it to each of the characteristics of the market. The example may not be entirely appropriate and/or several details are missing. Below Expectations – Attempts to identify one real-life example of a market structure and relate it to each of the characteristics of the market; however, the example is not appropriate and significant details are missing. Non-Performance – The identification of one real-life example and its relationship to each of the market characteristics is either nonexistent or lacks the components described in the assignment instructions. Describes How High Entry Barriers into a Market Influence Long-Run Profitability of the Firms Total: 2.30 Distinguished – Thoroughly describes the influence of high entry barriers into a market on long-run profitability of the firms. Proficient – Mostly describes the influence of high entry barriers into a market on long-run profitability of the firms. Basic – Somewhat describes the influence of high entry barriers into a market on long-run profitability of the firms. Below Expectations – Minimally describes the influence of high entry barriers into a market on long-run profitability of the firms. Non-Performance – The description of the influence of high entry barriers into a market on long-run profitability of the firms is either nonexistent or lacks the components described in the assignment instructions. Explains If Competitive Pressures Are Present in Markets with High Barriers to Entry Total: 3.00 Distinguished – Thoroughly explains if competitive pressures are present in markets with high barriers to entry. Proficient – Explains if competitive pressures are present in markets with high barriers to entry. The explanation is slightly underdeveloped. Basic – Partially explains if competitive pressures are present in markets with high barriers to entry. The explanation is underdeveloped. Below Expectations – Minimally explains if competitive pressures are present in markets with high barriers to entry. The explanation is significantly underdeveloped. Non-Performance – The explanation of the presence of competitive pressures in markets with high barriers to entry is either nonexistent or lacks the components described in the assignment instructions. Explains the Price Elasticity of Demand in Each Market Structure and Its Effect on Pricing of Its Products in Each Market Total: 2.00 Distinguished – Thoroughly explains the price elasticity of demand in each market structure and its effect on pricing of its products in each market. Proficient – Explains the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The explanation is slightly underdeveloped. Basic – Partially explains the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The explanation is underdeveloped. Below Expectations – Minimally explains the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The explanation is significantly underdeveloped. Non-Performance -The explanation of the price elasticity of demand in each market structure and its effect on pricing of its products in each market is either nonexistent or lacks the components described in the assignment instructions. Describes How the Role of the Government Affects Each Market Structure’s Ability to Price Its Products Total: 2.00 Distinguished – Thoroughly describes how the role of the government affects each market structure’s ability to price its products. Proficient – Describes how the role of the government affects each market structure’s ability to price its products. Minor details are missing. Basic – Somewhat describes how the role of the government affects each market structure’s ability to price its products. Relevant details are missing. Below Expectations – Attempts to describe how the role of the government affects each market structure’s ability to price its products; however, significant details are missing. Non-Performance – The description of government intervention in product pricing in each of the market structures is either nonexistent or lacks the components described in the assignment instructions. Discusses the Effect of International Trade on Each Market Structure Total: 2.00 Distinguished – Provides a thorough discussion of the effect of international trade on each market structure. Proficient – Provides a discussion of the effect of international trade on each market structure. Minor details are missing. Basic – Provides a limited discussion of the effect of international trade on each market structure. Relevant details are missing. Below Expectations – Attempts to discuss the effect of international trade on each market structure; however, significant details are missing. Non-Performance – The discussion of the effect of international trade on each market structure is either nonexistent or lacks the components described in the assignment instructions. Critical Thinking: Explanation of Issues Total: 1.00 Distinguished – Clearly and comprehensively explains in detail the issue to be considered, delivering all relevant information necessary for a full understanding. Proficient – Clearly explains in detail the issue to be considered, delivering enough relevant information for an adequate understanding. Basic – Briefly recognizes the issue to be considered, delivering minimal information for a basic understanding. Below Expectations – Briefly recognizes the issue to be considered, but may not deliver additional information necessary for a basic understanding. Non-Performance – The assignment is either nonexistent or lacks the components desc
ribed in the instructions. Written Communication: Content Development Total: 1.00 Distinguished – Uses appropriate, pertinent, and persuasive content to discover and develop sophisticated ideas within the context of the discipline, shaping the work as a whole. Proficient – Uses appropriate and pertinent content to discover ideas within the context of the discipline, shaping the work as a whole. Basic – Uses appropriate and pertinent content, but does not apply it toward discovering or developing ideas. Overall, content assists in shaping the written work. Below Expectations – Uses content, though it may be unrelated or inappropriate to the topic. Content does not contribute toward the development of the written work, and may distract the reader from its purpose. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Context and Purpose for Writing Total: 1.00 Distinguished – Demonstrates methodical application of organization and presentation of content. The purpose of the writing is evident and easy to understand. Summaries, quotes, and/or paraphrases fit naturally into the sentences and paragraphs. Paper flows smoothly. Proficient – Demonstrates sufficient application of organization and presentation of content. The purpose of the writing is, for the most part, clear and easy to understand. There are some problems with the blending of summaries, paraphrases, and quotes. Paper flows somewhat smoothly. Basic – Demonstrates a limited understanding of organization and presentation of content in written work. The purpose of the writing is somewhat evident, but may not be integrated throughout the assignment. There are many problems with the blending of summaries, paraphrases, and quotes. Paper does not flow smoothly in all sections. Below Expectations – Organization and presentation of content is extremely limited. The purpose of the writing is unclear. There is little or no blending of summaries, paraphrases, and quotes. Paper does not flow smoothly when read. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Control of Syntax and Mechanics Total: 0.68 Distinguished – Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors, and is very easy to understand. Proficient – Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors, and is mostly easy to understand. Basic – Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors, which may slightly distract the reader. Below Expectations – Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors, which distract the reader. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: APA Formatting Total: 0.68 Distinguished – Accurately uses APA formatting consistently throughout the paper, title page, and reference page. Proficient – Exhibits APA formatting throughout the paper. However, layout contains a few minor errors. Basic – Exhibits basic knowledge of APA formatting throughout the paper. However, layout does not meet all APA requirements. Below Expectations – Fails to exhibit basic knowledge of APA formatting. There are frequent errors, making the layout difficult to distinguish as APA. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Page Requirement Total: 0.67 Distinguished – The paper meets the specific page requirement stipulated in the assignment description. Proficient – The paper closely meets the page requirement stipulated in the assignment description. Basic – The paper meets over half of the page requirement stipulated in the assignment description. Below Expectations – A fraction of the page requirement is completed. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Resource Requirement Total: 0.67 Distinguished – Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment. Proficient – Uses required number of scholarly sources to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment. Basic – Uses less than the required number of sources to support ideas. Some sources may not be scholarly. Most sources on the reference page are used within the body of the assignment. Citations may not be formatted correctly. Below Expectations – Uses inadequate number of sources that provide little or no support for ideas. Sources used may not be scholarly. Most sources on the reference page are not used within the body of the assignment. Citations are not formatted correctly. Non-Performance – The assignment is either nonexistent or lacks the components described in the instructions.
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