🤑 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.
|Unit||Exam Weighting (Multiple-Choice Section)|
|Unit 1: Basic Economic Concepts||12%–15%|
|Unit 2: Supply and Demand||20%–25%|
|Unit 3: Production, Cost, and the Perfect Competition Model||22%–25%|
|Unit 4: Imperfect Competition||15%–22%|
|Unit 5: Factor Markets||10%–13%|
|Unit 6: Market Failure and the Role of Government||8%–13%|
By taking this course, you’ll be able to develop critical thinking skills in the following areas:
|1. Principles and Models||Define economic principles and models.|
|2. Interpretation||Explain given economic outcomes.|
|3. Manipulation||Determine outcomes of specific economic situations.|
|4. Graphing and Visuals||Model economic situations using graphs or visual representations.|
🚨 All you need to know about the 2023 AP Macroeconomics Exam !
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.
- 📉 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!
Check out all of our AP Micro resources!
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