Competency 1 Assessment Instructions
You’re a business consultant, and your new task is to teach a group of interns how economic events impact economic activity and economic concentration. You’ve decided to present the information in writing with visual aids. (Tip: charts and tables would help illustrate data for the interns.)
Create a 2-part report.
Part 1: Economic Events & Activity Analysis
Review the Learning Resources folder.
Write a 500- to 750-word analysis assessing how 2 major economic events influenced supply, demand, and economic equilibrium in U.S. economic activity. Choose your 2 events from the list:
Rapid price increases (examples: the 1973 oil embargo; the aftermath of a major hurricane) Dramatic employment drops (example: the 2006 housing bubble burst and the Great Recession that followed) Crippling interest rates imposed by the Federal Reserve (example: 1975–1985) 1991 Collapse of the Soviet Union, the end of the Cold War, and the “peace dividend” The dot-com bubble from 1994 to 2000 and the dot-com crash that followed Part 2: Economic Concentration Evaluation
Select 1 economic concentration (or “cluster”) from the list:
Seattle-Tacoma-Olympia, WA aerospace/defense industry Advanced logistics and supply-chain hubs in the U.S. Write a 700- to 1,050-word evaluation of how your chosen economic concentration evolved. Specifically, focus on the role of the 4 factors of production. Complete the following in your evaluation:
Analyze how the economic concentration was influenced by competition and pricing. Analyze how the economic concentration influenced the supply chain. Analyze which of the 4 factors of production were the most and least important in determining the economic concentration. Predict changes you anticipate for the area of economic concentration you chose. Support your predictions. Note: You may need to do additional research outside of course resources for some of the above topics.
Cite your sources.
Make sure to give credit to any sources you use by including both in-text citations and a list of references. You can see how to do this in the APA 7 manual or in the University Library. Here's a quick example: In-text citation example: According to Hubbart (2023), resistance to change is . . . Reference example: Hubbart, J. A. (2023). Organizational change: The challenge of change aversion. Administrative Sciences, 13(7), 162. https://doi.org/10.3390/admsci13070162 You don't have to follow this citation style perfectly, but it's important to show which ideas are yours and which come from other places when you're doing your assignments. Make sure you have addressed all the parts of the grading rubric.
Note: To pass a competency assessment you must receive at least a Meets Expectations (ME). You can resubmit your competency assessment a maximum of 2 times. You will receive feedback for your competency assessment. Use that feedback to make improvements before revising and resubmitting. This is an opportunity to learn and build mastery.