Unofficial6 units2 h 10 min exam
AP Microeconomics review
Supply and demand, production and cost, market structures, factor markets and market failure.
Exam format
| Section | Questions | Time | Calculator |
|---|---|---|---|
| Multiple choice | 60 questions | 1 h 10 min | four-function |
| Free response | 3 questions | 1 h | four-function |
Calculator policy: A four-function calculator is allowed.
Units
- Unit 1
Basic Economic Concepts
Scarcity, production possibilities and marginal analysis.
- Unit 2
Supply and Demand
Elasticity, surplus and the effects of government intervention.
- Unit 3
Production, Cost and the Perfect Competition Model
Cost curves and profit maximization.
- Unit 4
Imperfect Competition
Monopoly, oligopoly, game theory and monopolistic competition.
- Unit 5
Factor Markets
Labor and capital markets and marginal revenue product.
- Unit 6
Market Failure and the Role of Government
Externalities, public goods and income inequality.
Browse all AP courses.