AP Econ Unit 1 Fundamentals of Economics

Unit 1: Basic Economics Concepts (8-14%)

  1. Scarcity, choice and opportunity cost
  2. Production Possibilities Curve
  3. Comparative Advantage, absolute advantage, specialization and trade
  4. Economic Systems
  5. Property Rights and the role of incentives
  6. Marginal Analysis

Unit Notes and Assignments

Notes: Fundamentals of Economics

AP Microeconomics Unit 1 Pretest