Microeconomics Review Videos- AP Econ

The video tutorial is divided into six units covering key economic concepts. Unit 1 introduces opportunity costs and tradeoffs. Unit 2 focuses on supply, demand, and market interventions. Unit 3 discusses production costs and perfect competition. Unit 4 explores monopolies and imperfect competition. Unit 5 covers the resource market and labor issues. Unit 6 examines the role of government and market failures.

What is the primary focus of Unit 1 in the micro class?

• Supply and demand

• Opportunity costs and tradeoffs

• Monopolies and oligopolies

• Resource market and minimum wage

Which of the following is NOT covered in Unit 2?

• Ceilings and floors

• Monopolistic competition

• Surplus

• Taxes

What economic concept is associated with perfect competition?

• Opportunity costs

• Monopolies

• Market failures

• Cost of production

Which market structure is characterized by a few large firms dominating the market?

• Resource market

• Oligopoly

• Monopolistic competition

• Perfect competition

What is the role of government in the context of market failures?

• To regulate monopolies

• To increase production costs

• To address market failures

• To ensure perfect competition