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AP Microeconomics
Individual markets, firms and choices — supply, demand, elasticity and market structures.
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Scored lab investigations
Unit 1 · 12–15%
Basic Economic Concepts
- Scarcity, Trade-offs & Marginal Analysis13 min · 3 objectives
- The Production Possibilities Curve14 min · 3 objectives
- Comparative Advantage & the Gains from Trade14 min · 3 objectives
- Economic Systems & the Circular Flow13 min · 3 objectives
- Terms of Trade & the Output–Input Trap14 min · 3 objectives
- Cost–Benefit Analysis & Sunk Costs13 min · 3 objectives
- Consumer Choice & Utility Maximization13 min · 3 objectives
- Reading the PPC: Shapes, Shifts & Efficiency13 min · 3 objectives
Unit 2 · 20–25%
Supply & Demand
- Demand, Supply & Market Equilibrium14 min · 3 objectives
- Elasticity14 min · 3 objectives
- Surplus, Price Controls & Efficiency14 min · 3 objectives
- Determinants of Demand versus Quantity Demanded14 min · 3 objectives
- Determinants of Supply & the Role of Time13 min · 3 objectives
- Elasticity Arithmetic & the Total Revenue Test15 min · 3 objectives
- Income & Cross-Price Elasticity13 min · 3 objectives
- Double Shifts & Indeterminate Outcomes14 min · 3 objectives
- Trade, Tariffs & the Cost of Protection14 min · 3 objectives
Unit 3 · 22–25%
Production, Cost & Perfect Competition
- Production & Costs14 min · 3 objectives
- Cost Curves & Profit Maximization15 min · 3 objectives
- Perfect Competition14 min · 3 objectives
- Diminishing Returns & the Shape of Marginal Cost14 min · 3 objectives
- Reading a Cost Table15 min · 3 objectives
- Long-Run Costs & Economies of Scale13 min · 3 objectives
- Accounting Profit versus Economic Profit13 min · 3 objectives
- The Shut-Down Decision14 min · 3 objectives
- Long-Run Equilibrium in Perfect Competition14 min · 3 objectives
Unit 4 · 15–22%
Imperfect Competition
- Monopoly15 min · 3 objectives
- Monopolistic Competition13 min · 3 objectives
- Oligopoly & Game Theory14 min · 3 objectives
- Why Marginal Revenue Lies Below Demand14 min · 3 objectives
- Deadweight Loss & the Case Against Monopoly14 min · 3 objectives
- Price Discrimination13 min · 3 objectives
- Natural Monopoly & Two Regulated Prices14 min · 3 objectives
- Monopolistic Competition & Excess Capacity13 min · 3 objectives
- Payoff Matrices, Dominant Strategies & Nash Equilibrium14 min · 3 objectives
Unit 5 · 10–13%
Factor Markets
- Derived Demand & Marginal Revenue Product14 min · 3 objectives
- Competitive Labor Markets & Wage Determination14 min · 3 objectives
- Monopsony & the Least-Cost Rule13 min · 3 objectives
- Derived Demand & What Shifts MRP14 min · 3 objectives
- The Least-Cost Rule & Choosing Between Inputs13 min · 3 objectives
- Monopsony: Why Marginal Factor Cost Exceeds the Wage15 min · 3 objectives
- The Minimum Wage in Two Market Structures14 min · 3 objectives
- Shifts in Factor Supply & Wage Differentials13 min · 3 objectives
Unit 6 · 8–13%
Market Failure & Government
- Externalities14 min · 3 objectives
- Public Goods & Market Failure13 min · 3 objectives
- Taxes, Tax Incidence & Income Distribution14 min · 3 objectives
- Marginal Social Benefit, Marginal Social Cost & the Optimum15 min · 3 objectives
- Correcting Externalities: Taxes, Subsidies & Their Limits14 min · 3 objectives
- Rivalry, Excludability & the Four Kinds of Good13 min · 3 objectives
- Measuring Inequality: Lorenz Curves & the Gini Coefficient14 min · 3 objectives