iRubric: Our Economic Evironment rubric

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Our Economic Evironment

In groups you will brainstorm a good or service that you want to offer to the consumers of the United States. You will focus on key concepts and ideas from Unit 1 in the creation of this product. The main points will include Economic Resources, The Economic Decision Making Process, Key Economic Questions, Major Competitors, Production Costs, and how your product will exist in the four stage of the Business Cycle.

Rubric Code: UA8342

By kretzdan

Draft

Public Rubric

Subject: Business

Type: Presentation

Grade Levels: 9-12

Shark Tank Economics
	Poor 1 pts	Fair 2 pts	Good 3 pts	Excellent 4 pts
Product	Poor Product has very little though, not defined as a good/service or want/need	Fair Product is lacking in thought, not clearly defined as a good/service or a want/need	Good Product is thought out, and may be defined as a good or service or a want or need.	Excellent Product is well thought out, defined as a good or service, and as a want or a need.
Economic Resources	Poor Economic Resources are poorly defined or missing. Does not answer the question of which Natural, Human, or Capital Resources will be used.	Fair Missing some Economic Resources that could be used to create the product. Does not define which of each type of resource will be used.	Good Some the Economic Resources used to create the product are defined. Answers the questions of which Natural, Human, and Capital Resources will be used but could be more detailed.	Excellent The Economic Resources used to created the product are defined. Clearly answers the question of which Natural, Human, and Capital Resources will be used.
Decision-Making Process	Poor Failed to define more than 1 step in the Decision-Making Process.	Fair Severe lack of detail or missing a step in the Decision Making Process.	Good Lack of detail in answering the 6 steps of the Decision-Making Process.	Excellent Clear and detailed answers to each of the 6 steps in the Decision-Making Process.
Economic Questions	Poor Does not answer 1 or more of the 3 Key Economic Questions and does not provide reasoning for answers.	Fair Answers the 3 Key Economic Questions but does not provide reasoning for each answers.	Good Answers the 3 Key Economic Questions and provides reasoning behind each answer.	Excellent Answers the 3 Key Economic Questions in detail with detailed reasoning behind each answer.
Competition	Poor Does not define major competitors or products.	Fair	Good Defines either major competitor or products, but not both.	Excellent Defines major competitors and what products they are in competition with.
Production Costs	Poor Does not show production costs or retail price.	Fair Shows very little of the possible production costs of the product and/or does not list retail price.	Good Shows some production costs associated with their product. Lists retail price.	Excellent Has shown most, if not all, production costs associated with their product. Also lists intended retail price.
Business Cycle	Poor Does not address the Business Cycle.	Fair Does not clearly answer how the product will last in the Business Cycle and does not provide a plan for Recession/Depression.	Good Answers how the product will last in the 4 stages of the Business Cycle. No clear focus on Recession/Depression plan.	Excellent Detailed answers showing how the product will last in the 4 stages of the Business Cycle with a focus on how to sell during Recession/Depression.
Presentation	Poor Ideas and concepts are lacking or missing and work is not divided equally among members.	Fair Ideas and concepts are unclear and presentation is lacking. Some group members have done more.	Good Ideas and concepts are explained and the information is presented well, each member has contributed.	Excellent Ideas and concepts are explained clearly and creatively with each member of the group having done their fair share.

Subjects:

Business

Types:

Presentation

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