How does one factor in the social costs of a product? What factors influence price? Learners consider the question and others using authentic College Board materials. Other questions examine profits and competition in the market and the kind of wage a fictitious car wash company can pay its employees.

Concepts

test preparation, microeconomics, profit, equilibrium, cost, competition, wages, prices

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Additional Tags

social studies

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Instructional Ideas

• Use the resource as a model to create additional problem sets
• Offer all or part of the resource to practice for the AP® exam

Classroom Considerations

• Includes the 2001 free-response questions from the AP® exam in microeconomics

Pros

• Questions are easy to adapt to a variety of instruction
• Resource includes materials to offer simple and consistent feedback

Cons

• College Board has revised the exam since this test administration

Common Core

RH.9-10.1 RH.9-10.2 RH.9-10.3 RH.9-10.10 RH.11-12.1 RH.11-12.2 RH.11-12.3 RH.11-12.10