





All questions / problems are answered. 
All but 12 of the questions / problems are answered. 
All but 23 of the questions / problems are answered. 
More then 3 of the questions / problems are not answered. 

Explanation shows complete understanding of the economic concepts used to solve the problem(s). 
Explanation shows substantial understanding of the economic concepts used to solve the problem(s). 
Explanation shows some understanding of the economic concepts needed to solve the problem(s). 
Explanation shows very limited understanding of the underlying concepts needed to solve the problem(s) OR is not written. 
Economic Terminology and Notation 
Correct terminology is always used, supporting the economic reasoning. 
Correct terminology is usually used, adding to the economic reasoning. 
Correct terminology is not used consistently, and does not support the economic reasoning. 
There is little use, or inappropriate use of terminology, making it difficult to understand the economic reasoning 
Diagrams, Graphs, and Sketches 
Diagrams, graphs and/or sketches are clear, complete, and facilitate understanding of the solution process. 
Diagrams, graphs and/or sketches are clear and easy to understand, but not complete. 
Diagrams, graphs and/or sketches are not clear and somewhat difficult to understand. 
Diagrams graphs and/or sketches are difficult to understand or are not used. 