Little-picture microeconomics is concerned with how supply and demand interact in individual markets for goods and services. In macroeconomics, the subject is typically a nation—how all markets interact to generate big phenomena that economists call aggregate variables. One is called Microeconomics.

A recurring theme in economics is that people: Have unlimited economic wants, but limited resources. Economic analysis assumes “purposeful behavior”, which means that people will decisions or actions: That will increase their will-being.

A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.

Antoni van Leeuwenhoek

AP Microeconomics Exam Tips

1. Take advantage of the 10-minute planning time. Starting to write immediately can lead to a string of disconnected, poorly planned thoughts.
2. Use correct terminology.
3. Use graphs wisely.
4. Label graphs clearly, correctly, and fully.

The Microeconomics AP exam is one of the APs most commonly taken as a self-study test. While many students do enroll in the actual class, this particular exam is also well-suited to self-studying due to its heavy emphasis on vocabulary and highly specific theory.

Macroeconomics and Microeconomics offer a similar difficulty level. Microeconomics is a little more time consuming (though also more interesting, in my personal opinion!), and is also the only course to have had 100% of reviewers recommending it to other students.

Best personality types for business (and how to use Myers-Briggs to find your PERFECT match)

• INTJ – The Scientist. Source: CNBC.
• INTP – The Professor. Source: CNBC.
• ENTJ – The Boss. Source: CNBC.
• ENTP – The Debater. Source: Snopes.
• INFJ – The Coach. Source: Ashoka.
• INFP – The Optimist.
• ENFJ – The Hero.
• ENFP – The Speaker.