The Principles of Economics Applied in Real Life (PEARL) assignment is an at-home writing assignment. Here are the detailed instructions:

You are to choose a current newspaper article it MUST be from 2019-2020 and write an essay of Approximately 700 words explaining how the article illustrates one of the 10 Principles of Microeconomics in action:1. The 3 Fundamental Economic Questions

2. The Principle of Rational Economic Decision Making

3. The Principle of Rising Marginal Opportunity Cost

4. The Principle of Comparative Advantage

5. The Law of Diminishing Returns

6. The Law of Demand

7. The Law of Supply

8. The Principle of Market Equilibrium

9. The Principle of the Invisible Hand

10. The Principle of Market Failure

The article must be from a newspaper* (paper or on-line version), and you must submit a copy of your article with your essay. If the article is not a 2019-2020 newspaper article, or a copy is not attached, your essay will not be accepted.

*CNN.com, Yahoo News, etc., are not newspapers, nor are blogs, trade industry publications, etc.

Your essay is to be typed, double -spaced, with the following heading information: Your name and student number. The title of your chosen news article.

The article's identifying source information in detail (publication name, date, page number, and author name, URL if appropriate, etc.) The principle(s) that you see being illustrated in the article.

It is not expected that you will find an article that explicitly makes reference to one of the Principles. Rather, you are to find an article that gives an example of some real-life situation in which you see one (or more) of the principles exemplified.

Your essay should be clear and direct in its summary of the real-life situation and in its explanation of how that situation is an example of the Principle at work. The scoring rubric is given below. Composition refers to sentence and paragraph structure, spelling, word usage, grammar, etc

Scoring rubric:

The essay clearly identifies one (or more) of the 10 Principles as the subject 15 points The essay clearly identifies and summarizes interesting and relevant facts from the article in a factually rich way 20 points The essay shows a good understanding of the chosen Principle(s) and related theory 25 points The essay provides a clear, interesting, and accurate explanation of how the Chosen example illustrates the chosen Principle(s). 25 points Composition (sentence and paragraph structure, spelling, word usage, grammar, etc.) is substantially correct. Presentation format is appropriate 15 points TOTAL100 points