Open Response Question 13 Imagine that the United States Post Office issued a 33-cent stamp to honor Willie Wells' election to the National Baseball Hall of Fame. The first 50,000 from the several million stamps issued by the Post Office contained a spelling error. Explain in economic terms why the value of the stamps increased. Response demonstrates a thorough understanding of supply and demand. 3 Response provides a general explanation with some detail about why the value of the stamps has increased.
Response demonstrates an adequate understanding of supply and demand.
2 Response provides limited explanation about why the value of stamps has increased. Response demonstrates a limited understanding of supply and demand with few details. 1 Response provides minimal explanation about why the value of stamps has increased. Response is incorrect or irrelevant. Select one invention and explain how it contributed to an improved understanding of nature and the universe.