Unit 2
AP Microeconomics Unit 2: Supply and Demand
Demand, supply and the elasticities that measure how much they respond, equilibrium with consumer and producer surplus, and what taxes, price controls and trade policy do to a market.
Topics
- 2.1Demand
- 2.2Supply
- 2.3Price Elasticity of Demand
- 2.4Price Elasticity of Supply
- 2.5Other Elasticities
- 2.6Market Equilibrium and Consumer and Producer Surplus
- 2.7Market Disequilibrium and Changes in Equilibrium
- 2.8The Effects of Government Intervention in Markets
- 2.9International Trade and Public Policy
Unit check
10 questions drawn from every lesson in Unit 2. Each wrong answer links back to where the idea is taught.
Labs for this unit
- Topics 2.6 and 2.8 Market Policy Lab Add a per-unit tax, a price ceiling or a price floor to a market and watch consumer surplus, producer surplus, tax revenue and deadweight loss change.
- Topics 2.1, 2.2 and 2.7 Shift Supply or Demand Read what happened to one market, pick the curve it moves, move it, and mark where the new curves cross. The page checks your graph and says what is off.
- Topic 2.9 Trade and Tariffs Graph Label a domestic market, move the price line to the world price or add a tariff, and mark the quantity domestic producers supply or consumers buy. The page checks your graph.