Q Week 2 Details & Rubric-10 Points Identify variables that could be used to predict demand and production. Include at least one variable from each of the following three categories: • Macroeconomic variables that might impact demand and/or supply in the industry. A good place to start would be the list of economic indicators included in this week’s materials. • Demographic variables. A good place to start would be the Census Bureau. Consider what these demographics tell you about the potential customers of the business you are describing. • Production characteristics in this industry such as economies of scale, economies of scope, and/or any unique production characteristics that might apply. Some good places to start would be websites of companies in the industry or industry association websites and publications. For each of the variables you identify, indicate what impact it has on production costs and potential profit, customer demand, the economic environment the business would exist in, and any other impacts you determine would be important in predicting production costs and demand. Categories: • Macroeconomic variables that might impact demand and/or supply in the industry. A good place to start would be the list of economic indicators included in this week’s materials. • Demographic variables. A good place to start would be the Census Bureau. Consider what these demographics tell you about the potential customers of the business you are describing. • Production characteristics in this industry such as economies of scale, economies of scope, and/or any unique production characteristics that might apply. Some good places to start would be websites of companies in the industry or industry association websites and publications. CATEGORY Excellent Good Novice Content 4 Points • All three categories are addressed. (Categories are listed above.) • Information presented is clearly related to economic theories, concepts and main ideas of the course. Writing reflects a sophisticated understanding of these concepts. 3 Points • At least one category is addressed. (Categories are listed above.) • Information presented may be related to economic concepts but relationship is not clearly identified and may not be apparent to the reader. Writing reflects a basic understanding of economic concepts. 2 to 0 Points • None of the assigned categories are included. • Information presented is not clearly related to economic theories, concepts, or main ideas of the course. Writing does not reflect an understanding of basic economic concepts. Analysis 4 Points • Information is synthesized and implications for demand and production forecasting are analyzed. 3 Points • Relevant observations are reported but potential for demand and production forecasting are not analyzed. 2 to 0 Points • Comments are not supported with valid sources. Reported information is not analyzed OR impacts on demand and production forecasting are not presented. Clarity of Writing and Writing Technique 2 Points • Writing demonstrates original or innovative thinking. Writer communicates insight and perceptiveness in making connections. • Discussion begins with strong objective facts and then progresses to interpretation, application, and analysis. 1 Points • Writing demonstrates some original or innovative thinking. Writer communicates some insight and perceptiveness in making connections. • Discussion tends toward reporting without application, interpretation, or analysis. Writing is generally clear with some unnecessary words, run-ons, etc. Writing structure is repetitive or similar to the source without additional interpretation. Few spelling, grammar, punctuation errors. 0 Points • Writing does not demonstrate original or innovative thinking. Writer does not communicate insight and perceptiveness in making connections. • Discussion is almost entirely reporting without any interpretation, application, or analysis.