AP Microeconomics

AP Microeconomics is a college-level course that explores how individuals, businesses, and governments make decisions about allocating scarce resources. Students learn key concepts such as supply and demand, market equilibrium, elasticity, and the behavior of firms in different market structures. The course also covers the role of government in correcting market failures, taxation, and externalities. Emphasis is placed on understanding economic models, interpreting graphs, and applying theory to real-world scenarios.