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Week 3 Article Review

Week 3 Article Review

Q Current Event Article Review Current Event Article Review On select weeks you are asked to review a current event as described in a current publication - such as a news article, podcast, book, movie, interview, etc. - on a topic of your choice that relates to economics. Be sure that this is a current event or situation that is happening in the world. Do not use as your primary topic an entry or article that is defining terms (such as you might find in "investopedia" or at government websites that define the role of agencies). Be sure that your main source is reporting on or addressing a current, on-going situation. You may use additional sources to define terms, but be sure that your main topic is a current event. Your review should: • summarize a specific concept from this week's learning • analyze how the event and reference you choose helps to illuminate the concept • provide a link to the full source of the reference Submit at the "Article Review" link under "Assignment Submission" on the left side menu. Article Review Rubric 0-15 points each item, 0- 60 points total Criteria Excellent 14-15 points each item Good 11-13 points each item Needs Development 0-10 points each item Summary of Article Article is current and relevant. Article is clearly summarized. Sources are clearly identified. Article is current and relevant but is not clearly summarized or does not clearly identify the source. Article is not current or is not relevant to economic concepts being studied. Economic Concepts At least one economic concept from current studies is clearly explained. Relevance of the concept to the article is made clear. At least one economic concept from current studies is identified but not clearly explained or relevance to the article is not clear. Concepts from current studies are not clearly identified. Critical Thinking and Analysis Ways in which the article illuminates economic concepts are clearly identified and explained. There is a relationship between the article and economic concepts but this is not clearly explained. Relationship between the article and economic concepts is not clear. Technical Free of errors in grammar, punctuation, and spelling. Proper format is used. Some errors in grammar, punctuation, and spelling. Many errors in grammar, punctuation, and spelling.

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Fixed cost refers to the cost which is not dependent on the output of the firms whereas variable cost depends on the outcomes of the firms. The fixed cost includes the rent, and taxes whereas the variable cost includes wages of labor. Sunk cost refers to the cost which cannot be recovered (Kessides, 1990). To produce any goods these three types of costs are needed. For this week the chosen article is “Electronics is set to get even more expensive as chip giants hike their prices”. The link to the article is: https://www.cnbc.com/2022/05/24/electronics-set-to-rise-as-chip-giants-like-tsmc-samsung-hike-prices.html This article was published in CNBC news this year.