Unit 3 Performance Task: Your Company in the Market

Interdependence – Choices made by one party have intended and unintended consequences.
Continuing your analysis of your company, the firm that hired you wants you to look at how your business
performs in the market. USE THE SAME BUSINESS as the last unit. Your requirements for this task are as follows:
PART I: Analyze the market structure your company faces: Is it a monopoly, perfect competition, monopolistic
competition, or oligopoly? You must provide AT LEAST 3 examples that support your answer.
PART II: Analyze the type of business organization your company uses (sole proprietorship, partnership, corporation).
Give at least two benefits and two drawbacks using specific examples from your company.
PART III: First, identify whether the demand for your company’s product is elastic or inelastic and explain why. Do the
same for supply. Next, evaluate how EACH letter of GRENT and RIPEN could affect your business.
*To do this, draw 4 s/d graphs (one showing an increase in demand, one for decrease demand, one for increase
supply, and one for decrease supply). Label the four graphs A, B, C, and D. Next, write 10 hypothetical scenarios
(one for each letter of GRENT and RIPEN) that specifically relate to your company. Connect EACH scenario to
one of your 4 graphs.
PART IV: Using the theme of interdependence, explain how price ceilings and price floors could hypothetically affect
your business. (Ex: If my business was faced with a price ceiling, the intended consequence would be…the unintended…)
Criteria 1 2 3 4 WEIGHT
(Needs (Below Standards) (Meets Standard) (Exceeds Standard)
Improvement) (Critical Thinking!)
Part I: Analyzes  Uses less than 3  Some examples  Uses 3 specific  In addition to
market structure examples unclear, incorrect, or examples to explain everything in 3, also
for business with  Incorrect market do not relate business which market structure explains how the
examples.
structure to market structure the business is in. market structure X2.5
 Market structure  Market structure is affects their
mis-identified based explained, but advertising and ability
on information examples not related. to set prices.
given.
Part II: Analyzes  Most benefits or  Provides benefits OR  Provides two benefits  In addition to
business drawbacks are mis- drawbacks and two drawbacks that everything in 3, also
organization and identified with  Explanations are are specific to the explains costs and
chosen organization vague and not business AND to benefits of at least one
X2
compares to other
 Fewer than two analyzed in terms of chosen organization other type of business
organizations
benefits/drawbacks the business organization
Part III:  Elasticity  Elasticity correctly  Elasticity of supply  In addition to
Evaluates market incomplete or identified, but mis- AND demand everything in 3, also
equilibrium using incorrectly explained identified and explains in general
identified  Some parts of graphs explained correctly terms the role of
supply and
 Some graphs mislabeled  All graphs drawn and buyers and sellers in
demand
incomplete  Some scenarios are labeled correctly
X4.5
the marketplace.
determinants  Less than 10 vague or explained  Each scenario relates
scenarios presented incorrectly specifically to the
business and is
explained correctly
Part IV:  Correctly explains  Explains price  Explains how price  In addition to
Evaluates how either floors or ceilings and price ceilings and price floors everything in 3,
interdependence ceilings, but not floors, but does not could affect the explains at least one
affects your both. use the language of business specifically other way
business by using
 Only partially interdependence or using the theme of interdependence can X3
correct explanation explains interdependence affect the business.
price ceilings and of ceilings/floors interdependence
floors as examples without price ceilings
or floors
Project is neat  Portions of project   All parts are easy to 
and presentable are difficult to find find and clearly
(Communication) or not labeled identified X1
 Outside information (if
present) is cited
TOTAL_____/51