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Microeconomics: the step-by-step guide

28 steps that follow the official AP Microeconomics units in order, plus the extra topics Cambridge A Level and IB students need. Each step has worked examples, six practice questions with worked answers and a quick self-check.

Unit 1: Basic Economic ConceptsAP Micro Unit 1 (12–15%)
  1. The Economic Problem
  2. The Production Possibility Curve
  3. Comparative Advantage
  4. Economic Systems
  5. Marginal Analysis and Consumer Choice New
Unit 2: Supply and DemandAP Micro Unit 2 (20–25%)
  1. Demand
  2. Supply
  3. Market Equilibrium and Price
  4. Elasticity
  5. Consumer and Producer Surplus
  6. Government Intervention in Markets
  7. International Trade and Public Policy New
Unit 3: Production, Cost and Perfect CompetitionAP Micro Unit 3 (22–25%)
  1. Production and Costs
  2. Profit Maximisation and Firm Decisions New
  3. Perfect Competition
Unit 4: Imperfect CompetitionAP Micro Unit 4 (15–22%)
  1. Monopoly
  2. Price Discrimination New
  3. Monopolistic Competition and Oligopoly
  4. Game Theory
Unit 5: Factor MarketsAP Micro Unit 5 (10–13%)
  1. Labour Markets
  2. Factor Demand and the Least-Cost Rule New
Unit 6: Market Failure and the Role of GovernmentAP Micro Unit 6 (8–13%)
  1. Externalities
  2. Public Goods and Common Resources
  3. Government Policy and Market Structures New
  4. Inequality and Redistribution New
Unit 7: Beyond AP — A Level and IB extrasCambridge A Level and IB topics
  1. Indifference Curves and Budget Lines New
  2. Information Failure and Behavioural Economics New
  3. Growth, Objectives and Survival of Firms New

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The book chapters add more examples, diagrams and practice questions with full answers.

Economics Made Simple Bundle — Textbook, 450 Practice Questions, Flashcards and 100 Case Studies

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Statistics Made Simple Complete Bundle cover showing both the textbook and practice book

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  • 246-page textbook, 16 chapters
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