Ap economics Study guides, Class notes & Summaries

AP MACROECONOMIC REVIEW EXAM LATEST 2023 society's virtually unlimted wants paired our scarce and limited resources create this problem - the "economizing problem" usefulness or satisfaction - utility all natural, human, and manufactured items that go into the production of goods and services - economic resources they are the four factors of production (AKA economic resources) - land, labor, capital, entrepreneurship all gifts of nature - land manufactured/manmade tools used...

AP Macroeconomics Unit 1 Practice Questions The crucial problem of economics is - answerallocating scarce productive resources to satisfy wants When one decision is made, the next best alternative not selected is called - answerOpportunity Cost Which of the following is true if the production possibilities curve is a curved line concave to the origin? A. Resources are perfectly substitutable between the production of the two goods B. It is possible to produce more of both products. C. ...

AP macroeconomics Practice Test Latest Update absolute advantage - the ability to produce something more efficiently capital - productive equipment or machinery comparative advantage - the ability to produce something with a lower opportunity cost economics - a social science that studies how resources are used and is often concerned with how resources can be used to their fullest potential efficiency - using resources to their maximum potential labor - all human activity that ...

These notes are supposed to help those in need for macroeconomics notes for unit 2. These notes summarize each module you are supposed to know, with graphical drawings as well.

AP Seminar Oral Defense Questions with complete solution 2024Describe how the content of team presentation was changed as a result of group discussion. - correct answer At the beginning, the slides were very unclear and scrambled. But, after team discussion, we organized the slides in a way that would be easy to comprehend for the audience and for us. It took many hours of discussing where the slides would go and how we would set it up, but it was worth it in the end. Stella, how did the gro...

AP Macroeconomics Exam 1 Questions with correct answers Marginal Analysis - examination of the additional benefits of an activity compared to the additional costs incurred by that same activity Individual Choices - what to do, maybe what not to do, but totally the basis of economics the real cost - what you give up Pig Principle - people will choose the larger quantity in a deal with equal prices even if it includes something they wouldn't usually want Opportunity Cost - "I'd r...

AP Seminar Oral Defense QuestionsDescribe how the content of team presentation was changed as a result of group discussion. - correct answer At the beginning, the slides were very unclear and scrambled. But, after team discussion, we organized the slides in a way that would be easy to comprehend for the audience and for us. It took many hours of discussing where the slides would go and how we would set it up, but it was worth it in the end. Stella, how did the group decide to include Student ...

AP MacroEconomics UNIT 1 Exam Review with Answers 1. Scarcity - Answer>> Limited nature of society's resources. Example: OIL 2. Choice - Answer>> Human behavior to choose how to spend/use the world's scarce resources. 3. Trade Offs - Answer>> 1st Principle of Economics-the fact that people's choice results in losing one quality or aspect of something in exchange for a quality or aspect of another

AP Microeconomics Exam with Correct Answers economics - Answer>> social science concerned with the efficient use of scare resources to achieve maximum satisfaction of economic watts; study of choices scarcity - Answer>> unlimited wants and limited resources

AP Microeconomics Exam Review Questions And Correct Solutions