please follow the instruction carefully . i want straight forward report with…

please follow the instruction carefully . i want straight forward report with analysis and graphs. i want APA refrencing style reportASSESSMENT BRIEFSubject Code and Title ECON6001 Economic PrinciplesAssessment Assessment 3 – ReportIndividual/Group IndividualLength 1000 wordsLearning Outcomes a) Analyse, individually and in teams, the role of fundamental micro- and macroeconomic principles in business decision-making.b) Analyse the impact of industry competition on individual businesses.c) Analyse, from an economic and ethical perspective, business behaviours in a national and global context.d) Analyse the impact of monopolies and monopolistic competition within an industry.e) Evaluate the impact on industry of manipulations of economic factors by the public sector.f) Communicate complex economic concepts to business professionals.Submission By 11:59 pm AEST/AEDT Sunday of week 5Weighting 20%Total Marks 100 marksContext:This written assignment will cover content from modules 1 and 2 (demand and supply and the implication of elasticity).In the 1970s, members of OPEC (Organisation of the Petroleum Exporting Countries) decided to raise the world price of oil in order to increase their incomes. These countries accomplished this by jointly reducing the amount of oil they supplied.From 1973 to 1974, the price of oil (adjusted for overall inflation) rose more than 50%. By 1990, the price of oil (adjusted for overall inflation) was back to where it was in 1970.Instructions:To answer the given question, research on the trend for prices of oil from 1970 – 1990. Apply the concept of demand, supply and elasticity to analyse the trend. Draw graphs and explain them. (Thisshould be done in a 1000 word report).Why did OPEC fail to keep the price of oil high?Submission Instructions:· Include a cover sheet that contains your subject name, full name and student ID number.· Clearly indicate question number and part thereof for each of your answers.· Submit as a Word document only. Do not submit a pdf.· When inserting diagrams such as a graph the following are acceptable:o neatly hand–drawn diagrams inserted into the document as a pictureo diagrams copied from a text book or other source as long as the source is correctly attributed (Wikipedia and Investopedia not acceptable sources)o diagrams drawn using a drawing package that produces images acceptable to Word· Use the APA 6th Edition Referencing style.· Reference list, appendices and calculations are not included in word count.Learning Rubric: Assessment 3Assessment Attributes Fail0-49%(Unacceptable) Pass50-65%(Functional) Credit66-75%(Proficient) Distinction76-85%(Advanced) High Distinction86-100%(Exceptional)Knowledge andunderstanding of economicconcepts60 Limited understanding ofrequired concepts andknowledgeKey components of theassignment are notaddressed. Knowledge orunderstanding of the fieldor discipline.Resembles a recall orsummary of key ideas.Often conflates/confusesassertion of personalopinion with informationsubstantiated by evidencefrom the research/coursematerials. Thorough knowledge orunderstanding of the fieldor discipline/s. Supportspersonal opinion andinformation substantiatedby evidence from theresearch/course materials.Demonstrates a capacity toexplain and apply relevantconcepts. Highly developedunderstanding of the fieldor discipline/s.Discriminates betweenassertion of personalopinion and informationsubstantiated by robustevidence from theresearch/course materialsand extended reading.Well demonstratedcapacity to explain andapply relevant concepts. A sophisticatedunderstanding of the fieldor discipline/s.Systematically and criticallydiscriminates betweenassertion of personalopinion and informationsubstantiated by robustevidence from theresearch/course materialsand extended reading.Mastery of concepts andapplication to newsituations/further learning.Analysis and applicationwith synthesis of newknowledge related toeconomic concepts20 Limited synthesis andanalysis.Limitedapplication/recommendations based upon analysis. Demonstrated analysis andsynthesis of newknowledge withapplication.Shows the ability tointerpret relevantinformation and literature. Well-developed analysisand synthesis withapplication ofrecommendations linked toanalysis/synthesis. Thoroughly developed andcreative analysis andsynthesis with applicationof pretested models and/orindependently developedmodels and justifiedrecommendations linked toanalysis/synthesis. Highly sophisticated andcreative analysis, synthesisof new with existingknowledge.Strong application by wayof pretested models and/orindependently developedmodels. Recommendationsare clearly justified basedon the analysis/synthesis.Applying knowledge to newsituations/other cases.Use of academic anddiscipline conventions andsources of evidence20 Poorly written with errorsin spelling, grammar.Demonstrates inconsistentuse of good quality,credible and relevant Written according toacademic genre (e.g. withintroduction, conclusion orsummary) and has accuratespelling, grammar, Well written and adheres tothe academic genre (e.g.with introduction,conclusion or summary).Demonstrates consistent Very well written andadheres to the academicgenre.Consistently demonstratesexpert use of good quality, Expertly written andadheres to the academicgenre.Demonstrates expert use ofhigh quality, credible andECON6001_Assessment Brief 3 Page 3 of 4research sources to support sentence and paragraph use of high quality, credible credible and relevant relevant research sourcesand develop ideas. construction. and relevant research research sources to support to support and developThere are mistakes in using Demonstrates consistent sources to support and and develop appropriate arguments and positionthe APA 6th Edition use of credible and relevant develop ideas. arguments and statements. statements. ShowsReferencing style. research sources to support There are no mistakes in Shows evidence of reading extensive evidence ofand develop ideas, but using the APA 6th Edition beyond the key reading reading beyond the keythese is not always explicit Referencing style. There are no mistakes in reading There are noor well developed. using the APA 6th Edition mistakes in using the APAThere are no mistakes inusing the APA 6th Edition Referencing style. 6th Edition Referencingstyle.Referencing style.ECON6001_Assessment Brief 3 Page 4 of 4

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