AP Microeconomics Diagram Review

Front

Identify inefficient use of resources

Back

1

Front

Identify impossible use of resources

Back

5

Front

Identify opportunity cost

Back

2 --> 3

Front

Identify economic growht

Back

2 (or 3) --> 4

Front

Identify changes to demand/supply and price/quantity from point 1 to 2

Back

D: increase

P: increase

Q: increase

Front

Identify changes to demand/supply and price/quantity from point 1 to 3

Back

D: decrease

P: decrease

Q: decrease

Front

Identify changes to demand/supply and price/quantity from point 1 to 4

Back

S: increase

P: decrease

Q: increase

Front

Identify changes to demand/supply and price/quantity from point 1 to 5

Back

S: decrease

P: increase

Q: decrease

Front

Identify point 1

Back

Consumer surplus

Front

Identify point 2

Back

Producer surplus