AP MICROECONOMICS: AP TEST REVIEW Unit 1: Intro to Microeconomics: Chapter 1, 2, and 5 1. Define ECONOMICS a. the social science concerned with how individuals, institutions,…

1. Demand and Supply 2. Chapter Objectives • Explain the main influences on demand • Explain the main influences on supply • Use a model to show how prices are determined…

1. IndividualMarkets: Demand & Supply3 C H A P T E R 2. MARKETS DEFINED MARKETS POTENTIAL SELLERS POTENTIAL BUYERS 3. DEMAND DEFINED $5 4 3 2 1 DEMAND SCHEDULE Various…

1.0 INTRODUCTION In recent years, more and more university employees tend to choose their residences in places inside the campus or residential. As a result of this change,…

1. 5 4 3 2 1 10 20 35 55 80 A schedule or a curve that shows the various amounts of a product that consumers are willing and able to purchase at each of a series of possible…

Slide 1 Slide 2 Unit 2: Supply, Demand, and Consumer Choice Can they see me? Slide 3 Demand Slide 4 DEMAND What is Demand? Demand is the different quantities of goods that…

Slide 1 Slide 2 Slide 3 Topics and percentages 8-12% Basic Economic Concepts 12-16% Measurement of Economic Performance 10-15% National Income and Price Determination 15-20%…

Slide 1100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 300 400 500 200 Micro Potpourri Macro Potpourri Micro Potpourri…

Slide 1Equilibrium What is the Equilibrium and why is it important to both producers and consumers? Slide 2 2 Combining Supply and Demand How do supply and demand create…

Slide 1Chapter 5 SUPPLY http://www.youtube.com/watch?v=R6ojYtKazgQ Slide 2 Supply Supply – the amount of goods available Law of Supply – the higher the price, the larger…