AP Principals of Microeconomics
Explore the theories behind drivers to changes to prices and quantity of output produced and consumed in individual markets. Evaluate how both consumer and producer utility maximization drives market outcomes, and the unintended consequences to third parties that may arise as a result of market behavior.
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1.1 Scarcity, Choice & Opportunity Cost
Mr. Racine introduces the fundamental economic concepts of scarcity, choice and opportunity cost.
Mr. Racine introduces the fundamental economic concepts of scarcity, choice and opportunity cost.
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1.2 Factors of Production
Learn how factors of production are classified in economics as well as an introduction to the basic production model.
Learn how factors of production are classified in economics as well as an introduction to the basic production model.
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More to Come!
Stay tuned as we add more resources and practice problem sets throughout the semester!
Stay tuned as we add more resources and practice problem sets throughout the semester!
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