AP Microeconomics

Advanced Placement Microeconomics analyzing individual economic decision-making.

Scarcity and Opportunity CostThe Role of IncentivesMarginal Analysis and Decision Making
Supply and DemandElasticityConsumer and Producer Surplus
Making Daily Economic ChoicesUnderstanding Market InteractionsResponding to Incentives in the Real World
Mastering Graphs and DiagramsApplying Concepts to Real-World ScenariosTime Management During the Exam
Scarcity and Opportu...The Role of Incentiv...Marginal Analysis an...Supply and DemandElasticityConsumer and Produce...Making Daily Economi...Understanding Market...Responding to Incent...Mastering Graphs and...Applying Concepts to...Time Management Duri...
Practical Applications

Understanding Market Interactions

How You Participate in Markets

Every time you buy or sell something, you’re part of a market. Understanding how supply and demand affect prices helps you spot good deals and avoid overpaying.

Applying Knowledge

  • Shop around for better prices and quality.
  • Recognize how sales and trends can affect prices.
  • Stay alert to how new products or news can change the market.

Real Life

  • Buying a laptop during back-to-school sales.
  • Selling old clothes online when they’re in high demand.

Examples

  • Buying a popular game right after release versus waiting for a sale.

  • Selling sneakers when a celebrity endorsement causes a spike in demand.

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Responding to Incentives in the Real World