All goods have a social cost. A set of questions considers how to best calculate the impact the production of goods has on society. Other practice problems from College Board consider supply-and-demand curves and the impact of licensing fees on local businesses.

Concepts

microeconomics, test preparation, profit, monopolies, prices, mass production, supply and demand, supply curves, oil, social issues

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Additional Tags

social studies

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Instructional Ideas

• Create additional problems based on the prompts to reinforce instruction
• Incorporate items into a review for the AP® exam

Classroom Considerations

• Prompts are the 2004 free-response questions from the AP® exam

Pros

• Scoring materials make feedback easy and accurate for an high-stakes exam
  
• Items are easy to adapt or use as a model

Cons

• None

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