AP* MICROECONOMICS
Online prep and review
May 16 is the big day. Are you ready?
Supply and demand dragging you down? Weird. Usually, only the demand curve has a negative slope. (Thank you, thank you, we'll be here until the AP test.) For other amazing micro jokes and more, check out Shmoop's guide to the AP Microeconomics exam.
A Student's Guide To AP Exam Prep
Test-Taking Tips
Specifically designed for mastering the AP Microeconomics exam. Learn why you should focus your studying on the mechanics of supply and demand, what puts the "micro" in "microeconomics," and how to put sentences together in an essay about econ.
Four Full-Length Practice Exams
As Socrates once said: “Know thy exam format before thy exam.” We admit he might not have said that, but that doesn’t make this idea any less important!
Every year, the AP Micro Exam is made up of the same two parts: 1. A multiple-choice section with 60 questions. You will have 70 minutes to work on this, and it will count for2/3 of your exam grade. 2. A 60-minute free-response section in which you have to answer 3 multi-part prompts. This counts for 1/3 of your grade.
With our four [bold] full-length practice exams, you can familiarize yourself with how those sections work, and crush the exam on test day.
Practice Drills
If you want to do well on the AP, you need to know what to expect in the exam. The AP Micro curriculum is nothing to sneeze at, but don’t worry if you have, in fact, been sneezing—Shmoop’s here to help with some Kleenex and a detailed review of all the important material.
This exam will test your analytical skills and not your skills of memorization. Yes, there will be some questions looking for identification or definitions, but the vast majority of the test questions will ask you to analyze things. We have plenty of practice drills [bold] to help you get comfortable with all the different types of questions you're going to face on exam day.
Extreme Topic Review
Sure, it’s a tough test, but you now have Shmoop by your side. We’ll hold your hand while you wade through the knee-deep marshlands of supply and demand; we’ll also help you tame the wild beasts of market competition and factors of production.
By the time you've made it through, you will know how to run factories and industrial empires. Microeconomics is the first step in becoming a tycoon. Soon, we might have to start calling you Moneybags!
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Supply & Demand
Firms: Costs, Revenue & Profits
Price Controls, Quantity Controls & Taxes
Elasticity
Economic Systems
Property Rights and the Role of Incentives
Comparative Advantage, Absolute Advantage, Specialization and Exchange
Circular Flow
Equilibrium
Consumer and Producer Surplus
Theory of Consumer Choice
Utility Maximization
Individual Demand Curves
Income and Substitution
Production Functions
Revenues and Profit
Perfect and Imperfect Competition
Monopoly and Oligopoly
Game Theory
Externalities & Market Failure
Public Goods
And a lot more!
