Chapter 2: Acquires Knowledge – Experiences Competition – Fights Off Threat of Monopoly
The Journey consists of 3 chapters. They are connected as your character first recognizes that a problem exists, obtains
the knowledge that will be needed to solve the problem, and then reaches the point where meaningful change can occur.
In Chapter 2, your character enters a new world where they learn those lessons that will be needed in order to develop a
solution to the problem found in Chapter 1. A series of experiences leads to a greater understanding of what it will take to
solve the problems created by the crisis. Encountering a series of ups and downs, the foundation is laid for victory.
Stage 5 - A Whole New World
Individuals respond to high prices
by producing more of a particular
good, but the aggregate number of
goods produced cannot be
expanded without resolution of the
fundamental problem. How is the
new world different from the old?
Stage 8 – Something Always
Spoils All the Fun
Competitive markets can be
elusive in the face of monopoly.
How can a lack of competition
create serious problems?
Stage 6 – New Knowledge
Conquers All
Some additional output can
be created with increases in
productivity. What new
knowledge must be learned
and how will it be helpful to
your character?
Stage 7 - The Competitive Arena
Whether or not goods are
produced most efficiently
depends on the degree of
competition. How can competition
become a force for good?
Chapter 2: Acquires Knowledge – Experiences Competition – Fights Off Threat of Monopoly
The Journey consists of 3 chapters. They are connected as your character first recognizes that a problem exists, obtains
the knowledge that will be needed to solve the problem, and then reaches the point where meaningful change can occur.
Fill in the boxes with your story (or a short summary). Although your details and storyline may differ from the
outline on the previous page, the big picture is still the same. Make sure you’ve included at least one economic
concept in each stage, the attributes you’ve earned to help build your character, and transitional sentences
between stages to keep one, consistent story.
Stage 6 - Utility, Budget Constraint, Marginal
Utility Per Dollar
Stage 5 - Demand Curve, Elasticity, Total Revenue
Transitional Sentence:
_______________________________________
Transitional Sentence:
__________________________
__________________________
Stage 8 - Perfect Competition, Entry and Exit,
Efficiency
Stage 7 - Diminishing Marginal Product, Cost Per Unit
of Output, Fixed and Variable Inputs
Transitional Sentence:
_______________________________________
1 - Doesn’t Meet
Does not demonstrate
understanding of
important concepts
Ideas
(economic
concepts)
Little or no evidence
that writer is thinking
about the text as a
whole, e.g. thesis
lacking or nonexistent;
unclear how ideas
relate; missing
appropriate transitions;
etc.
Writer has paid little
Professional
attention to how text
Presentation
(spelling,
looks: frequent
grammar, run-on typos/errors, missing
sentences, etc.)
name/date/title etc.;
writer demonstrates
little or no sense of how
to write for a business
audience; sentences full
of “fluff”
Organization
(how story flows
logically,
paragraphs,
intro/conclusion)
2 - Partially Meets
3 - Nearly Meets
Concepts
Writing is at times
underdeveloped, lack
unclear or uncertain;
of supporting evidence some “fluff”
4 - Meets
Ideas clearly explained
and fully supported with
evidence
5 - Exceeds
Demonstrates rich
understanding of
concepts; ideas supported
well; writing is both
informative and engaging
Ideas related, but
explanations and
evidence unclear or
nonexistence;
paragraph order
questionable; weak
transitions,
conclusion, and/or
introduction
Writing is at times
vague, imprecise,
and/or unclear; many
typos/errors; writer
has been careless
about adhering to
conventions (title,
page numbers, etc.)
Writing is focused.
Sentences, ideas, and
evidence all follow one
another logically
Evidence that writer has
seriously considered all
elements of structure
from global (thesis, main
points) to local
(sentences connected)
Sentences mostly free of
excess words; writer has
command of word
choice and understands
purpose and audience
for this text; text is
mostly error-free
Sentences are engaging
and interesting; clear
sense of purpose and
audience; text free of
errors; writer clearly has
firm grasp of business
writing conventions
At times unclear how
sentences, ideas, or
evidence relate to one
another. Structural
elements (introduction,
thesis, closing) in need
of improvement.
Perhaps could have
used one more revision
Language is clear,
though writer does not
seem to understand the
audience for this
assignment; writer did
not fix easy-to-spot
typos, neglected some
conventions; one more
revision would’ve
made a big difference
Don’t Forget:





Transitional sentences
Use of paragraphs (indentation)
Make sure ideas relate and flow logically
Beware of run-on sentences
Keep the same story line throughout your
paper
 Grammar, correct use of commas, capitalizing
when necessary, spelling errors
 Use your story to exemplify the economics
concepts – don’t just state glossary definitions!
 Use the details in your story to demonstrate the
economic concepts rather than stating the word
every time