AP Microeconomics — Basic Economic Concepts
Unit 1 of 6
Basic Economic Concepts is the first of 6 units in the College Board's current AP MicroeconomicsCourse & Exam Description. It opens the course and sets up Supply and Demand.
Our Basic Economic Concepts set has 12 practice questions, each with a written explanation, a one-line key takeaway, and a rationale for every wrong choice — so you learn why the right answer is right and why each distractor is tempting. You can work them as a timed set or read the worked solutions straight through.
In-content ad
Practice this unit
Or practice across AP Microeconomics
All AP Microeconomics units
- Unit 1 · You are hereBasic Economic Concepts
- Unit 2Supply and Demand
- Unit 3Production, Cost, and the Perfect Competition Model
- Unit 4Imperfect Competition
- Unit 5Factor Markets
- Unit 6Market Failure and the Role of Government