🤑 2023 AP Microeconomics Study Plan

Welcome to this plethora of resources that cover everything! This toolkit is being constantly updated with more resources! AP Microeconomics is an introductory college-level microeconomics course. In this course, you will cultivate your understanding of the principles that apply to the functions of individual economic decision-makers. You will explore concepts like scarcity and markets; costs, benefits, and marginal analysis; production choices and behavior; and market inefficiency and public policy.

The AP Microeconomics Exam

A breakdown of the exam by percentage.

Course Skills

By taking this course, you’ll be able to develop critical thinking skills in the following areas:

Study Guides for Every Unit

💸 Unit 1 - Basic Economic Indicators

• 1.0 Overview of Unit 1
• 1.1 Scarcity
• 1.2 Resource Allocation and Economic Systems
• 1.3 Production Possibilities Curve (PPC)
• 1.4 Comparative Advantage and Trade
• 1.5 Cost-Benefit Analysis
• 1.6 Marginal Analysis and Consumer Choice
• 1.7 Multiple Choice Questions
• 1.8 MC Answers and Review

📈 Unit 2 - Supply and Demand

• 2.0 Overview of Unit 2
• 2.1 Demand
• 2.2 Supply
• 2.3 Price Elasticity of Demand
• 2.4 Price Elasticity of Supply
• 2.5 Other Elasticities
• 2.6 Market Equilibrium and Consumer and Producer Surplus
• 2.7 Market Disequilibrium and Changes in Equilibrium
• 2.8 The Effects of Government Intervention in Markets
• 2.9 International Trade and Public Policy
• 2.10 Multiple Choice Questions
• 2.11 MC Answers and Review

⚙️ Unit 3 - Production, Cost, and the Perfect Competition Model

• 3.0 Overview of Unit 3
• 3.1 The Production Function
• 3.2 Short-Run Production Costs
• 3.3 Long-Run Production Costs
• 3.4 Types of Profit
• 3.5 Profit Maximization
• 3.6 Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
• 3.7 Perfect Competition
• 3.8 Multiple Choice Questions
• 3.9 MC Answers and Review

📊 Unit 4 - Imperfect Competition

• 4.0 Overview of Unit 4
• 4.1 Introduction to Imperfectly Competitive Markets
• 4.2 Monopolies
• 4.3 Price Discrimination
• 4.4 Monopolistic Competition
• 4.5 Oligopoly and Game Theory
• 4.6 Multiple Choice Questions
• 4.7 MC Answers and Review

💰 Unit 5 - Factor Markets

• 5.0 Overview of Unit 5
• 5.1 Introduction to Factor Markets
• 5.2 Changes in Factor Supply and Factor Demand
• 5.3 Profit Maximizing Behavior in Perfectly Competitive Factor Markets
• 5.4 Monopsonistic Markets
• 5.5 Multiple Choice Questions
• 5.6 MC Answers and Review

🏛️ Unit 6 - Market Failure and Role of Government

• 6.0 Overview of Unit 6
• 6.1 Socially Efficient and Inefficient Market Outcomes
• 6.2 Externalities
• 6.3 Public and Private Goods
• 6.4 The Effects of Government Interventions in Different Market Structures
• 6.5 Inequality
• 6.6 Multiple Choice Questions
• 6.7 MC Answers and Review

AP Micro Exam

• ✍🏽 AP Microeconomics Exam Guide: A complete breakdown of the multiple-choice and free-response sections of the exam, including complete examples and advice from certified teachers.
• 🤯 AP Microeconomics Multiple-Choice Section Help (MCQ): A sweet and simple breakdown of the multiple-choice section, including examples and expert advice.

Quicklinks

• 📉 Supply and Demand: Master the fundamentals of Supply and Demand!
• 🤔 Determinants of Supply and Demand: Get to understand the acronyms that are associated with Supply and Demand!

Related Questions:

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