AP Microeconomics: Exam Prep

  • Course type: Self-paced
  • Available Lessons: 108
  • Average Lesson Length: 8 min
  • Eligible for Certificate: Certificate completed Yes

    Certificates show that you have completed the course. They do not provide credit.

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    What is Economics? - Definition & Types

  • AP Microeconomics: Exam Prep Practice Test
  • This course can be found in: AP Test Prep

    Thousands of practice questions, 20+ AP study guides, and 3,000+ test prep video lessons

Course Summary

Review the entertaining lessons in this course to get ready for the AP Microeconomics test. The course covers essential microeconomics concepts, and you can see how well you understand these topics by taking short quizzes and comprehensive chapter exams.
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11 chapters in AP Microeconomics: Exam Prep

Course Practice Test

Check your knowledge of this course with a 50-question practice test.
  • Comprehensive test covering all topics
  • Detailed video explanations for wrong answers
Week {{::cp.getGoalWeekForTopic(0, 11)}}
Ch 1. Foundational Economic Concepts {{cp.topicAssetIdToProgress[140386].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - What is Economics? - Definition & Types Score: {{cp.lessonAssetIdToProgress[12279].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12279].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[12279].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12279].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - The Importance of Consumer Choice in Economics Score: {{cp.lessonAssetIdToProgress[21532].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21532].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21532].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21532].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Microeconomic Resources: Scarcity & Utility Score: {{cp.lessonAssetIdToProgress[21533].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21533].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21533].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21533].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Understanding the Challenge of Resource Allocation Score: {{cp.lessonAssetIdToProgress[21534].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21534].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21534].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21534].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - What Is the Economic Man? - Concept, Assumptions & Constraints Score: {{cp.lessonAssetIdToProgress[21535].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21535].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21535].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21535].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Common Logic Pitfalls in Economics Score: {{cp.lessonAssetIdToProgress[21536].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21536].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21536].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21536].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Microeconomics vs. Macroeconomics Score: {{cp.lessonAssetIdToProgress[21537].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21537].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21537].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21537].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Comparing Normative & Positive Economics Score: {{cp.lessonAssetIdToProgress[21538].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21538].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[21538].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21538].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Comparative vs. Absolute Advantage in Microeconomics Score: {{cp.lessonAssetIdToProgress[43158].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[43158].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[43158].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[43158].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - An Overview of Economic Models & Uses Score: {{cp.lessonAssetIdToProgress[43159].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[43159].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[43159].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[43159].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Marginal Analysis in Economics Score: {{cp.lessonAssetIdToProgress[48328].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48328].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[48328].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48328].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - The Role of Property Rights in Economic Theory Score: {{cp.lessonAssetIdToProgress[140387].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140387].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140387].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140387].bestScoreQuestions}}  Take Quiz Optional
Lesson 13 - Using the Production Possibility Curve to Illustrate Economic Conditions Score: {{cp.lessonAssetIdToProgress[48234].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48234].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[48234].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48234].bestScoreQuestions}}  Take Quiz Optional
Lesson 14 - Opportunity Cost: Definition & Real World Examples Score: {{cp.lessonAssetIdToProgress[1913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1913].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[1913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1913].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(1, 11)}}
Ch 2. Economic Systems & Structures {{cp.topicAssetIdToProgress[140388].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Economic Systems: Definition, Types & Examples Score: {{cp.lessonAssetIdToProgress[15674].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15674].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15674].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15674].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Capitalism and the Free Market: Definition & Limitations Score: {{cp.lessonAssetIdToProgress[12280].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12280].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[12280].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12280].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Understanding Socialism, Communism, and Mixed Economies: Comparison & Analysis Score: {{cp.lessonAssetIdToProgress[12282].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12282].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[12282].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[12282].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Understanding a Command System in Economics Score: {{cp.lessonAssetIdToProgress[37352].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37352].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37352].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37352].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Production in Traditional, Market, Command & Mixed Economic Systems Score: {{cp.lessonAssetIdToProgress[48442].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48442].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[48442].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48442].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(2, 11)}}
Ch 3. Supply & Demand in Markets {{cp.topicAssetIdToProgress[140389].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - The Concept of Ceteris Paribus in Economics Score: {{cp.lessonAssetIdToProgress[22951].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22951].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22951].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22951].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Understanding the Demand Curve in Microeconomics Score: {{cp.lessonAssetIdToProgress[22952].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22952].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22952].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22952].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - The Supply Curve in Microeconomics Score: {{cp.lessonAssetIdToProgress[22953].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22953].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22953].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22953].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Causes of Supply and Demand Changes in Microeconomics Score: {{cp.lessonAssetIdToProgress[22954].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22954].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22954].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22954].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Market Equilibrium from a Microeconomics Perspective Score: {{cp.lessonAssetIdToProgress[22955].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22955].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22955].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22955].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Identifying Shortages and Surpluses in Microeconomics Score: {{cp.lessonAssetIdToProgress[22956].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22956].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22956].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22956].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Microeconomic Shifts in Supply and Demand Curves Score: {{cp.lessonAssetIdToProgress[22957].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22957].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22957].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22957].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Using Market Forces to Manipulate Supply and Demand Score: {{cp.lessonAssetIdToProgress[22958].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22958].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22958].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22958].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Price Ceilings and Price Floors in Microeconomics Score: {{cp.lessonAssetIdToProgress[22959].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22959].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22959].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22959].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Controlling Supply: Government Intervention & Market Forces Score: {{cp.lessonAssetIdToProgress[22960].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22960].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22960].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22960].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Tax Incidence: Definition, Formula & Example Score: {{cp.lessonAssetIdToProgress[15723].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15723].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15723].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15723].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - Deadweight Welfare Loss & Marginal Diagrams Score: {{cp.lessonAssetIdToProgress[140390].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140390].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140390].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140390].bestScoreQuestions}}  Take Quiz Optional
Lesson 13 - Surplus in Economics: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10232].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10232].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[10232].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10232].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(3, 11)}}
Ch 4. Elasticity of Markets in Microeconomics {{cp.topicAssetIdToProgress[140391].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Price Elasticity: Understanding Supply and Demand Score: {{cp.lessonAssetIdToProgress[1586].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1586].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[1586].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1586].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Price Elasticity of Demand in Microeconomics Score: {{cp.lessonAssetIdToProgress[22961].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22961].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22961].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22961].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Cross Price Elasticity of Demand: Definition and Formula Score: {{cp.lessonAssetIdToProgress[22962].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22962].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22962].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22962].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Income Elasticity of Demand in Microeconomics Score: {{cp.lessonAssetIdToProgress[22963].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22963].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22963].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22963].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Price Elasticity of Supply in Microeconomics Score: {{cp.lessonAssetIdToProgress[22964].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22964].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[22964].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[22964].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(4, 11)}}
Ch 5. Microeconomics & Consumer Behavior {{cp.topicAssetIdToProgress[307457].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Who Is the Consumer in Microeconomics? Score: {{cp.lessonAssetIdToProgress[32911].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32911].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32911].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32911].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Utility Maximization: Budget Constraints & Consumer Choice Score: {{cp.lessonAssetIdToProgress[32912].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32912].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32912].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32912].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Understanding the Individual Demand Curve Score: {{cp.lessonAssetIdToProgress[32913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32913].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32913].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Factors that Affect the Market Demand Curve Score: {{cp.lessonAssetIdToProgress[32914].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32914].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32914].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32914].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Calculating & Using the Market Demand Curve in Microeconomics Score: {{cp.lessonAssetIdToProgress[32925].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32925].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32925].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32925].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Substitution & Income Effects: Impacts on Supply & Demand Score: {{cp.lessonAssetIdToProgress[32915].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32915].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32915].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32915].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Normal & Inferior Goods in Microeconomics Score: {{cp.lessonAssetIdToProgress[32916].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32916].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32916].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32916].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - How the Engel Curve Influences Individual Demand Score: {{cp.lessonAssetIdToProgress[32924].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32924].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32924].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32924].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Consumer Preferences & Choice in Economics Score: {{cp.lessonAssetIdToProgress[32917].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32917].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32917].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32917].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Consumer Theories in Economics: Decision Making, Incentives & Preferences Score: {{cp.lessonAssetIdToProgress[32918].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32918].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32918].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32918].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Budget Lines & the Rate of Transformation in Economics Score: {{cp.lessonAssetIdToProgress[32919].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32919].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32919].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32919].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - Indifference Curves: Use & Impact in Economics Score: {{cp.lessonAssetIdToProgress[32920].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32920].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32920].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32920].bestScoreQuestions}}  Take Quiz Optional
Lesson 13 - Marginal Rate of Substitution: Definition, Formula & Examples Score: {{cp.lessonAssetIdToProgress[32921].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32921].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32921].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32921].bestScoreQuestions}}  Take Quiz Optional
Lesson 14 - The Indifference Curve for Substitutes & Complements in Economics Score: {{cp.lessonAssetIdToProgress[32922].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32922].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32922].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32922].bestScoreQuestions}}  Take Quiz Optional
Lesson 15 - Economics Assumptions about the Maximization of Utility Score: {{cp.lessonAssetIdToProgress[32923].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32923].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[32923].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32923].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(5, 11)}}
Ch 6. Production & Costs in Economic Markets {{cp.topicAssetIdToProgress[140392].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - What is Short-Run Production? - Definition & Examples Score: {{cp.lessonAssetIdToProgress[37335].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37335].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37335].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37335].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Total Product, Average Product & Marginal Product in Economics Score: {{cp.lessonAssetIdToProgress[37336].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37336].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37336].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37336].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Identifying Fixed Costs & Variable Costs for Producers Score: {{cp.lessonAssetIdToProgress[37337].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37337].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37337].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37337].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - The Law of Diminishing Marginal Returns Score: {{cp.lessonAssetIdToProgress[37338].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37338].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37338].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37338].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Using the Total Cost Curve to Make Production Decisions in the Short-Run Score: {{cp.lessonAssetIdToProgress[37339].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37339].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37339].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37339].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Average Cost Vs. Total Cost: Making Production Decisions in the Short-Run Score: {{cp.lessonAssetIdToProgress[37340].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37340].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37340].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37340].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - How Marginal Costs Differ from Average & Total Costs Score: {{cp.lessonAssetIdToProgress[37341].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37341].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37341].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37341].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Product & Cost Curves: Definitions & Use in Production Possibility Curves Score: {{cp.lessonAssetIdToProgress[37342].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37342].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37342].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37342].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Understanding Long-Run Production Decisions in Economics Score: {{cp.lessonAssetIdToProgress[37343].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37343].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37343].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37343].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Short-Run Costs vs. Long-Run Costs in Economics Score: {{cp.lessonAssetIdToProgress[37344].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37344].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37344].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37344].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - What Are Economies of Scale? - Definition & Impact on Fixed Costs Score: {{cp.lessonAssetIdToProgress[37345].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37345].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37345].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37345].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - Cost Minimization & Productive Efficiency Score: {{cp.lessonAssetIdToProgress[140393].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140393].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140393].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140393].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(6, 11)}}
Ch 7. Firm Behavior & Monopoly in Microeconomics {{cp.topicAssetIdToProgress[140394].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - How to Calculate Economic Profit: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15684].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15684].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15684].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15684].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Accounting Profit: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15731].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15731].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15731].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15731].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Profit Maximization: Definition, Equation & Theory Score: {{cp.lessonAssetIdToProgress[9522].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[9522].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[9522].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[9522].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Normal Profit, Supernormal Profit & Loss Situations Score: {{cp.lessonAssetIdToProgress[140395].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140395].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140395].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140395].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Perfect Competition in Economics & Adam Smith's 'Invisible Hand' Score: {{cp.lessonAssetIdToProgress[37347].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37347].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37347].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37347].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Price Discrimination: Definition, Types & Examples Score: {{cp.lessonAssetIdToProgress[15780].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15780].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15780].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15780].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - What is a Monopoly in Economics? - Definition & Impact on Consumers Score: {{cp.lessonAssetIdToProgress[37348].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37348].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37348].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37348].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Natural Monopoly in Economics: Definition & Examples Score: {{cp.lessonAssetIdToProgress[15662].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15662].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15662].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15662].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Understanding Monopolistic Competition in Economics Score: {{cp.lessonAssetIdToProgress[37349].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37349].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37349].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37349].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Characteristics of Monopolistic Competition Score: {{cp.lessonAssetIdToProgress[140396].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140396].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140396].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140396].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - What is an Oligopoly? - Definition & Impact on Consumers Score: {{cp.lessonAssetIdToProgress[37350].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37350].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37350].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37350].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - What is Game Theory? - Explanation & Application in Economics Score: {{cp.lessonAssetIdToProgress[37353].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37353].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37353].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37353].bestScoreQuestions}}  Take Quiz Optional
Lesson 13 - Nash Equilibrium & Game Theory Score: {{cp.lessonAssetIdToProgress[37354].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37354].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37354].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37354].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(7, 11)}}
Ch 8. Factor Markets in Microeconomics {{cp.topicAssetIdToProgress[140397].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Factor Market: Definition & Examples Score: {{cp.lessonAssetIdToProgress[85182].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[85182].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[85182].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[85182].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Derived Factor Demand: Definition & Overview Score: {{cp.lessonAssetIdToProgress[140398].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140398].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140398].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140398].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Marginal Revenue Product: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15768].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15768].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15768].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15768].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Hiring Labor & Acquiring Capital in Factor Markets Score: {{cp.lessonAssetIdToProgress[140399].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140399].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140399].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140399].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Factor & Personal Distribution of Income Score: {{cp.lessonAssetIdToProgress[85183].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[85183].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[85183].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[85183].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - What Is Market Failure? - Definition & Types Score: {{cp.lessonAssetIdToProgress[140400].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140400].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140400].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140400].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Marginal Social Costs & Marginal Social Benefits Score: {{cp.lessonAssetIdToProgress[140401].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140401].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140401].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140401].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Negative Externality: Definition & Example Score: {{cp.lessonAssetIdToProgress[15692].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15692].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15692].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15692].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Positive Externality: Definition & Examples Score: {{cp.lessonAssetIdToProgress[15757].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15757].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[15757].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15757].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Remedying Market Failures Score: {{cp.lessonAssetIdToProgress[140402].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140402].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[140402].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[140402].bestScoreQuestions}}  Take Quiz Optional
Week {{::cp.getGoalWeekForTopic(9, 11)}}
Ch 10. Public Policy, Government & Microeconomics {{cp.topicAssetIdToProgress[140405].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Trade Barriers: Impacts on Prices & Demand Score: {{cp.lessonAssetIdToProgress[37361].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37361].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37361].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37361].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Types of Taxes & the US Tax Code: Impact on Microeconomics Score: {{cp.lessonAssetIdToProgress[37362].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37362].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37362].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37362].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Government Intervention in the Economy: Issues & Factors Score: {{cp.lessonAssetIdToProgress[38228].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38228].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[38228].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38228].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - The Role of Government in a Market Economy Score: {{cp.lessonAssetIdToProgress[38226].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38226].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[38226].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38226].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Anti-Trust Legislation in the US: History & Impact on the Economy Score: {{cp.lessonAssetIdToProgress[37363].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37363].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37363].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37363].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Types of Regulation, Privatization, & Deregulation Score: {{cp.lessonAssetIdToProgress[27037].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[27037].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[27037].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[27037].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Governmental Regulation & Deregulation of the Economy Score: {{cp.lessonAssetIdToProgress[37364].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37364].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[37364].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[37364].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - The Cost and Benefits of Regulation in Business Score: {{cp.lessonAssetIdToProgress[27033].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[27033].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[27033].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[27033].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Circular Flow of Economic Activity: The Flow of Goods, Services & Resources Score: {{cp.lessonAssetIdToProgress[1929].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1929].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[1929].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1929].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Factors Affecting Poverty in the United States Score: {{cp.lessonAssetIdToProgress[58710].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[58710].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[58710].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[58710].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Income Distribution and Inequality in the US Score: {{cp.lessonAssetIdToProgress[58711].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[58711].bestScoreQuestions}}  Take Quiz Optional
Score: {{cp.lessonAssetIdToProgress[58711].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[58711].bestScoreQuestions}}  Take Quiz Optional

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