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Unit: Supply and Demand
AP Micro:
MKT (BI)
, POL (BI)
0
AP Micro:
MKT (BI)
, MKT‑3.A (LO)
, MKT‑3.A.1 (EK)
, MKT‑3.A.2 (EK)
, MKT‑3.A.3 (EK)
, MKT‑3.A.4 (EK)
, MKT‑3.A.5 (EK)
, MKT‑3.A.6 (EK)
, MKT‑3.B (LO)
, MKT‑3.B.1 (EK)
Learn
Practice
Markets, property rights, and the law of demandGet 3 of 4 questions to level up!
Demand and the determinants of demandGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑3 (EU)
, MKT‑3.C (LO)
, MKT‑3.C.1 (EK)
, MKT‑3.C.2 (EK)
, MKT‑3.D (LO)
, MKT‑3.D.1 (EK)
Learn
Practice
Supply and the law of supplyGet 3 of 4 questions to level up!
Changes in the determinants of supplyGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑3 (EU)
, MKT‑3.E (LO)
, MKT‑3.E.1 (EK)
, MKT‑3.E.2 (EK)
, MKT‑3.E.3 (EK)
, MKT‑3.E.4 (EK)
, MKT‑3.E.5 (EK)
Learn
Practice
Price Elasticity of Demand and its Determinants Get 3 of 4 questions to level up!
Determinants of price elasticity and the total revenue ruleGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑3 (EU)
, MKT‑3.E (LO)
, MKT‑3.E.6 (EK)
, MKT‑3.E.7 (EK)
, MKT‑3.E.8 (EK)
Learn
Practice
Price Elasticity of Supply and its DeterminantsGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑3 (EU)
, MKT‑3.E (LO)
, MKT‑3.E.10 (EK)
, MKT‑3.E.11 (EK)
, MKT‑3.E.9 (EK)
Practice
Income Elasticity of DemandGet 3 of 4 questions to level up!
Cross-Price Elasticity of DemandGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑4 (EU)
, MKT‑4.A (LO)
, MKT‑4.A.1 (EK)
, MKT‑4.A.2 (EK)
, MKT‑4.A.3 (EK)
, MKT‑4.A.4 (EK)
, MKT‑4.A.5 (EK)
Learn
Practice
Market equilibriumGet 3 of 4 questions to level up!
Consumer and Producer Surplus and Allocative EfficiencyGet 3 of 4 questions to level up!
AP Micro:
MKT (BI)
, MKT‑4 (EU)
Practice
Changes in equilibriumGet 3 of 4 questions to level up!
AP Micro:
POL (BI)
, POL‑1 (EU)
, POL‑1.B (LO)
, POL‑1.B.1 (EK)
, POL‑1.B.2 (EK)
, POL‑1.B.3 (EK)
Learn
Practice
Price and quantity controlsGet 3 of 4 questions to level up!
The effect of government interventions on surplusGet 3 of 4 questions to level up!
Tax Incidence and Deadweight LossGet 3 of 4 questions to level up!
AP Micro:
POL (BI)
, POL‑1 (EU)
Up next for you:
Level up on all the skills in this unit and collect up to 1600 Mastery points!Unit test
About this unit
This unit begins the study of product markets: the markets for the goods and services produced. In this unit, you will begins the study of product markets, focusing on the supply and demand model. Students will be introduced to the determinants of demand and supply, market equilibrium, and how changes in equilibrium occur when supply and demand change. Then, build on the supply and demand model to deepen your economics toolkit with the concepts of elasticity, consumer and producer surplus, and the impact of government policies.AP® is a registered trademark of the College Board, which has not reviewed this resource.