AP Microeconomics

Unit 1 – Intro to Economics

  1. Scarcity and Opportunity Cost
  2. Economic Models and Assumptions
  3. Production Possibilities Curve (PPC)
  4. Absolute Advantage and Comparative Advantage
  5. Specialization and Trade
  6. Economic Systems (Command vs. Market)
  7. Marginal Analysis
  8. Free Response Review Videos
  9. Multiple Choice Review Videos

Unit 2 – Product Markets

  1. Product Markets vs. Factor Markets
  2. Basics of Graphing
  3. Demand
  4. Consumer Theory
  5. Supply
  6. Market Equilibrium
  7. Government Policies
  8. Price Elasticity of Demand
  9. Other Elasticities
  10. Tax Incidence (Tax Burden)
  11. Free Response Review Videos
  12. Multiple Choice Review Videos

Unit 3 – The Firm

  1. The Market vs. The Firm
  2. Short-Run vs. Long-Run
  3. Production Analysis
  4. Short-Run Cost Analysis
  5. Long-Run Cost Analysis
  6. Cost Minimization and Productive Efficiency (Part 1)
  7. Revenue, Costs and Profit
  8. Free Response Review Videos
  9. Multiple Choice Review Videos

Unit 4 – Perfect Competition

  1. Product Market Structures
  2. Profit Maximization in Perfect Competition
  3. Stay Open vs. Shut Down Decision in Perfect Competition
  4. Long-Run in Perfect Competition
  5. Unit 4 Review Video
  6. Free Response Review Videos
  7. Multiple Choice Review Videos

Unit 5 – Monopoly

  1. Product Market Structures
  2. Characteristics and Graph of Monopoly
  3. Elasticity and Total Revenue in Monopoly
  4. Monopoly vs. Perfect Competition
  5. Government Regulation in Monopoly
  6. Price Discrimination in Monopoly
  7. Free Response Review Videos
  8. Multiple Choice Review Videos

Unit 6 – Monopolistic Competition and Oligopoly

  1. Product Market Structures
  2. Monopolistic Competition
  3. Characteristics of Oligopoly
  4. Game Theory
  5. Free Response Review Videos
  6. Multiple Choice Review Videos

Unit 7 – Factor Markets

  1. Product Markets vs. Factor Markets
  2. Product Market Structures
  3. Factor Market Structures
  4. Supply and Demand in Factor Markets
  5. Perfectly Competitive Factor Markets
  6. Monopsony Factor Markets
  7. Government Policies in Factor Markets
  8. Cost Minimization and Productive Efficiency (Part 2)
  9. Free Response Review Videos
  10. Multiple Choice Review Videos

Unit 8 – Market Failure and the Role of Government

  1. Externalities
  2. Public Sector Provision of Goods and Services
  3. Distribution of Income and Income Inequality
  4. Free Response Review Videos
  5. Multiple Choice Review Videos

AP Microeconomics Semester Exam Practice Test

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