AP Economics (Micro) Flashcards

AP Microeconomics flashcards covering supply and demand, elasticity, market structures, externalities, and more.

Unit 1: Basic Economic Concepts

Scarcity, Opportunity Cost and the PPC

High
4 cards

Comparative Advantage and Trade

High
4 cards

Demand, Supply and Market Equilibrium

High
4 cards

Unit 2: Supply and Demand

Elasticity and Consumer/Producer Surplus

High
6 cards

Price Controls and Government Intervention

High
5 cards

International Trade and Tariffs

High
4 cards

Unit 3: Production, Cost and the Perfect Competition Model

Production Functions and Costs

High
5 cards

Perfect Competition: Profit and Loss

High
5 cards

Profit Maximization and Market Entry/Exit

High
4 cards

Unit 4: Imperfect Competition

Monopoly and Price Discrimination

High
5 cards

Monopolistic Competition and Oligopoly

High
4 cards

Market Power and Regulation

High
4 cards

Unit 5: Factor Markets

The Demand and Supply of Labour

Medium
5 cards

Factor Markets and Marginal Revenue Product

Medium
4 cards

Unit 6: Market Failure and the Role of Government

Externalities and Public Goods

High
5 cards

Inequality and Government Intervention

High
5 cards

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