Go to one of the following:
Mr. Clifford's Microeconomics Videos
AP Microeconomics Powerpoints
AP Microeconomics Lecture Notes
Click on a link from one of these pages. Write a 3-5 sentence summary of the video or powerpoint and then answer the question, "Will this activity be helpful in my preparation for the AP Exam?
Jacob Toy
ReplyDeletePeriod 4
https://www.youtube.com/watch?v=1EzY4Vl460U&index=7&list=PL6B2DBE4C2FC8F845
I watched Mr. Clifford's "Econ 2.5 Price Ceilings and Floors" video. A price ceiling is a cap on a price that the government sets to where the price cannot go up to equilibrium, thus creating a shortage. A price floor is a minimum price buyers must pay for a product, thus creating a surplus. Generally, it is best for the government to leave the competitive market alone to prevent shortages & surpluses from occurring.
This activity is helpful in preparing me for the AP Exam since it sums up the concept of government regulation that hurts the economy in a 4.5 minute video.
Emigdio Escobedo
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http://academics.triton.edu/faculty/tporebski/PPTnotes.htm (Micro Econ: chapter 1 Intro to Economics)
I read through Chapter 1 in the micro econ section "Introduction to economics". This power point just gives us a basic idea of economics with the principle of scarcity, resources, capital, labor, opportunity costs, and a summary of micro economics. This power point also explains normative and positive economics, economic models, market systems and structures, and fallacies.
This activity is indeed very helpful in preparing me for the AP Exam. This power point sums up all the basic info i need to know about micro econ and can very well come in handy for the Exam.
Jenny Simon
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I went over chapter 11 powerpoint notes by Fred Gottheil. His slides were on perfect competition and monopolistic competition. He divided each one and gave good amount of information for each. For price and output in monopoly, he mentioned it is a single firm, no close substitutes, and many barriers to entry. On the other hand, for perfect competition, it has many firms, each a tiny share of the market, producing identical products and free entry and perfect information. The two greatest comparisons for both are: Higher prices & less output under monopoly and
long run profits possible in monopoly due to barriers to entry.
This powerpoint and the other ones are very helpful for everyone preparing for the AP exam. They breakdown for you all the key graphs and important information to know for be successful on the AP exam.
Wesley Andrade
ReplyDeletePeriod: 2
https://www.youtube.com/watch?v=KGrmnynjHjI
Mr. Clifford talks about the 4 market structures.
(1) Perfect competition: many buyers and sellers, none being able to influence prices.
(2) Oligopoly: several large sellers who have some control over the prices.
(3) Monopoly: single seller with considerable control over supply and prices.
(4) Monopsony: single buyer with considerable control over demand and prices.
This might cum in handy on the ape exam.
Chapter 3: Supply and Demand from AP Microeconomics Powerpoints is a summary of the concepts of supply and demand in the most simplest of turns, even it their are 73 slides, but their test questions and some concepts that weren't really touched on this year like market-day supply. It describes each curve's properties in simplistic detail like what causes each type of shift, not just the determinants. There are also review problems and notes on surpluses and shortages and how to get them back to equilibrium. It's even in Elkins school colors. So, it actually is a good review for the microecon exam because it can jog your memory about the magnitude each shift of whichever curve has on the equilibrium price and quantity (I certainly forgot some values would be indeterminate if both curves shift at the same time).
ReplyDeleteAmy Krauhs
Period 4
Ingrid curtom
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Chapter 4 Elasticity PowerPoint- This powerpoint explains elasticity in easy ways to understand. It goes over what factors influence demand sensitivity and how to measure the price, cross, and income elasticity’s of demand. It shows us how to determine whether a good is elastic, inelastic, or unitary and examples are also provided. The powerpoint also explains the differences between necessities, normal, inferior, and luxury goods.
I think this powerpoint would be helpful for anybody preparing for the AP exam because it breaks down the steps to calculate elasticity and graphs are also shown. It also explains the different types of goods with short, simple definitions.
Aadithya Srivatsav 6th period
ReplyDeletehttps://www.youtube.com/watch?v=M7rA4VfvdAw
Mr.Clifford's video talks about diminishing marginal returns. The more of an unit a consumer acquires, the less satisfaction they obtain. Also, marginal product is the derivative of total product. This will help me on my AP as it help me remember how total product is obtained.
Lecture notes
ReplyDeleteEconomic growth is the outward shift of the production graph to the right. This is due to increases in production, improved resource quality, technological advances. This can also be due to new resources on the market and an increase in the capacity in the labor that is supplied. This is definetly helpful on the ap exam and i will use this information.
Cailin O'Connell
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I went over the Chapter 16 power point, Monopsony and Labor Unions. In essence, unions create a coalition of workers who can more easily negotiate in a monopsonistic environment, where only one company is hiring and only one group provides a service or good. Unions raise demand and lower supply, resulting in a slightly higher wage than without a union, and more leverage in negotiations when dealing with a monopolistic firm.
Elyssa Buntzel 4th p
ReplyDeleteI watched the intro to economics video. This was just general information about microecon that we learned. It will help me studying because I can take each topic and test myself to see how detailed I can reexplain that topic.
Ayesha Wahid
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I went through the powerpoint talking about elasticity. The term elasticity means a term economists use to describe sensitivity. I learned what the the elasticity formula was and I think that this would be a good study tool for the AP exam.
Eduardo Maltez
ReplyDeleteI watched the Chapter 4 PowerPoint on Elasticity. Elasticity refers to people's responsiveness to changes in price. An elastic market means that a small change in price leads to a large change in quantity demanded/supplied and inelastic markets have little change in quantity in response to relatively large price changes. Elasticity is affected how close a substitute is to the product, how much of a percentage of income does the product take up, whether the product is either a necessity or a luxury, and how much time a person has to adjust to the price change. This is kinda of helpful for the AP Exam, a little practice wouldn't hurt.
Kissa Rizvi
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Economics is the Social Science concerned with how resources are used to satisfy wants, or the economizing problem. Society’s material wants are unlimited and insatiable. Economic resources are limited or scarce.
This activity will be helpful in my preparation for my exam because it gives me a brief and simple introduction to what economics essentially is and its main principle.
Natalia Chudumebi
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A product market is the different transactions through which finished goods and services are exchanged for consumption expenditures. In the circular flow diagram, the flow of products from businesses to consumers constitutes the
product market. Businesses are the suppliers of the products and households are the demanders for the products. Sellers of consumer goods and services meet those who want to buy finished goods and services.
This activity helps in describing each component of the things we taught this semester. And it will help me go over the main topics and graphs on the AP exam
Karen George
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This lecture was an overview of everything we have learned so far. I reviewed positive (statements that are facts) and normative (includes judgement) statements. I also reviewed the different economic goals such as economic growth, full employment, and price level stability. I also reviewed the economics is scarcity and the four types of resources are land, labor, capital, and entrepreneurial ability. This lecture will help me review for the ap test by helping me develop the concepts that are on the test.
Joe Thomas P.4
ReplyDeletehttps://www.youtube.com/watch?v=nsWuzS_dEM8&list=PL71234D006E682C13&index=2
Mr Clifford talks about public goods and free riders in this video. He explains how market failures cause goods to be produced, or limited, by the government. This is because the demand and supply for the good don’t accurately show its utility to the public. Free riders are people who don’t pay for the good but get its benefits anyway. It think these videos are good ways to review because he explains things very well and uses good examples.
Amanda Salmon 2nd period
ReplyDeleteThe video was about monopoly demand. it sell a unit the MR will go up to equal the P. To not price discriminate, they must make sure to sell each unit at the same price. to match what the people are willing to pay they lower the price of each unit and this will cause them to loose a dollar in revenue. The video will help me understand the graph of a monopoly demand other stuff similar to that.
Samantha Chan
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Lecture Notes
I read through the "Production Possibility Tables and Curves" lecture notes. I think these notes will help in studying for the APs because it is a good way to review the old and earlier concepts of economics. In this section I reviewed the production possibility curve and the points in how the points on the line represent efficiency, points inside the curve represent inefficiency, and the points outside the curve represent unattainable points. In addition, economic growth occurs when the curve moves outward. While consumer goods directly satisfy human wants, capital goods do so indirectly.
James Mai
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Micro 6.1 Public Goods and Free Riders (https://www.youtube.com/watch?v=nsWuzS_dEM8)
Republicans and democrats argue over the creation of public goods. Republicans assert that the people have created the infrastructure (which is a public good) while the democrats argue that it is the government that created roads. Both sides are correct, as the government actually did take steps into the creation of roads, while the people provided government the resources it needed to undergo the creation of infrastructure by providing money to the government through taxes. The free rider principle brings harm to public goods because the people who enjoy the commodity have no reason to pay for it if it is already free to them.
Chris Abraham
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I watched Mr. Clifford's "Econ 2.5 Price Ceilings and Floors" video. He discusses that a price ceiling is a cap on a price that the government sets to where the price cannot go up to equilibrium, thus creating a shortage. Additionally, it is noted that a price floor is a minimum price buyers must pay for a product, thus creating a surplus.In most cases, it's best if the government leaves the competitive market alone to prevent shortages & surpluses from occurring.
This activity is useful in terms of helping me with the AP Exam because it sums up the concept of government regulation that hurts the economy in a 4.5 minute video.
Timothy Krauhs
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https://www.youtube.com/watch?v=7Bv5YdVHN3E&list=PL50F9C4FD0BE8FE28&index=5
Micro 5.4 Resource Market, MRP and MRC: Econ Concepts in 60 Seconds- Factor Market. This video shows the use of MRP and MRC to calculate the amount of you workers you have to hire. An if there's a point where MRP is lower then MRC you stop hiring workers.
Gabrielle Chaney
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I from the past Mr. Clifford videos we would watch I felt that is explanations were really fast and could not fully understand the concepts of the graphs. However, using the powerpoints I believe are the best choice for me when studying for the AP Exam. I think the Powerpoints get straight to the point with the concept, and I can comprehend the material more better especially the perfect competition graphs because it has the most information.
Twinkle Joseph
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I watched Mr.Clifford's video on the basics of microeconomics. He talks about scarcity and how we unlimited wants but limited resources. He mentions trade offs and how opportunity costs influence decisions. He introduces the topic of the production possibilities curve and the most efficient way resources can be used. I think videos are helpful in preparing for the AP exam because it is easier for me to have an oral lesson than having to read a concept on my on. Also, it provides great review in a short amount of time.
Evan Young
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I went over the Chapter 13 PowerPoint, Antitrust and Regulation. When oligopolies and monopolies become too powerful, the government must regulate the firms in the industry. This is an example of antitrust regulation. Governments also regulate industries to prevent companies from becoming too powerful. This is helpful for the AP Exam because it highlights the concepts of Antitrust and Regulation as well as application to specific firms, with use of graphs and MC and MR rules.
Jayson Varughese
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I read the powerpoint on Profit Maximization. This is the goal of a firm to achieve the most profit possible from its production and sales. Profits are maximized when Marginal Revenue is equal to Marginal Cost. Also, the powerpoint stated that one should stay in business in the short run as long as price covers average variable costs without shutting down. This powerpoint is a very helpful resource for the AP exam because it covers all aspects of maximizing profits in a perfectly competitive market.
Daniel Aiello
ReplyDeletePeriod 4
https://www.youtube.com/watch?v=1EzY4Vl460U&index=7&list=PL6B2DBE4C2FC8F845
What I picked up on is that it is in the best interest for everyone if the government leaves the market alone and doesn't make limits. Mr. Clifford's "Econ 2.5 Price Ceilings and Floors" video. A price ceiling is a cap on a price that the government sets to where the price cannot go up to equilibrium, which in turn creates a shortage of said product. A floor is the aboslute minimum amount of money buyers must pay for a product which in turn creates a surplus of that product.
I mean I am not taking the AP exam but in this short time this video has helped me understand a lot of things that I was confused about.
Patrick Pecson
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I https://www.youtube.com/watch?v=Y2Z9r4PKwI8&index=1&list=PL50F9C4FD0BE8FE28
I did Mr. Clifford's Micro Unit 5 Intro- Resource Markets. This was basically an introduction into unit 5, which is about how demand is now the firms and the supply is now the people. Also Marginal revenue product, and marginal revenue cost (MRP = MRC), causing market and firm graphs.
2nd Period
ReplyDeleteI watched Mr. Clifford's Basics of Economics 1.1, the Production Possibilities Curve. It gives a good overview of the PPC using an examples of hats and videos, focusing on the idea that there are tradeoffs that must be made to make any combination of hats and videos. He also shows how to calculate the opportunity cost of producing any certain number of hats or videos.
Reuben Kurian
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lecture Notes Ch. 2
This was about the different types of systems. It talked about the market, competitive, traditional system, etc.. The competitive market system information was informational. This info should be used in the AP presentation.
Muizz Soomar
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Chapter 10 Powerpoint Market Structures
This powerpoint goes in detail about all the market structures. It also gives great examples that will help the learner understand where everything is coming from. There are also pictures and such that will help. I think this info should be used for the preperation of my AP exam.
Jocelyn Dang
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I watched Mr. Clifford's Microeconomics review video: Econ 2.3 Shifting Demand and Supply. It effectively explains the various shifters of supply and demand (tastes, income, market size, expectations, and resources). Mr. Clifford compares things like price changes, expectations, and many economic factors, to real life examples to demonstrate how the supply and/or demand curve shift as a result. By visually seeing the graph change as a result as well as thinking realistically how these factors affect supply and demand, Mr. Clifford simplifies how supply and deman shifts. This info would be very helpful with my preparation for this AP exam.
Jacqueline Gann
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I looked at powerpoint for chapter 10 on market structures. The powerpoint explains the types of market structures and how to identify them. It uses a question- answer layout that allows information to be easily understood. The powerpoint also details the graphs in the chapter and makes them easy to understand and recreate. I do think that this would be helpful to review for thr AP exam.
Michelle Pacheco
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I looked at PowerPoint ch.3 on supply and demand. The slides in the PowerPoint explains the definition and the differences between Supply and Demand. It also looks at the different types of changes in both, in graphs and also in numbers. It also explains why and how can a line (supply or demand) move and the reason behind it. Yes, this activity will help in the AP exam because it's one of the things that they ask you with more frequency and also because it's necessary for you to know this and how does it works
Ryan Mathew
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I looked at the powerpoint for chapter 10 and i specifically looked at the monopolies graph in the market structures. it helped me because I needed help understanding how that graph was positioned and how the graph ultimately worked and why it did. It gave me a clear and concise answer that i needed.
brikitta hairston
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i viewed the power point for chapter ten and three. i like how they explain the definitions and the market structures and monopoly graphs. they highlighted the changes in both and why a certain line can be supply or demand. these activities will help greatly with the AP exam because it shows how things work and why, which is good for full comprehension.
Humam Daas
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Ya boy checked out the powerpoint for chapter 11 of the book. That chapter is about oligopoly, so basically the powerpoint is about oligpolies! Straight up its the same powerpoint you used and it is nice and concise, definetely somehting i would revist before test day. It gives good prep.
Tojo Malayil
ReplyDelete6th Period
I did chapter 3 in the powerpoint. this chapter is mainly about supply and demand. it talks about how to do the supply and demand graph.It also talks about what the supply and demand curve means. yeah this will help you in the AP exam.
Arjun Daru
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I studied the powerpoint on profit maximization. This is when a firm tries to make the most revenue with their current level of resources. Also, to achieve profit maximization, MR=MC. To stay profitable in the short run, the firm should operate as long as revenue covers expenses.
This helps for the AP since it covers short run economics and basic principles of profit.
Keanu Florence
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I watched ACDC Leadership 's video about Micro Unit 1 Intro - Basic Concepts. He talked about one major concept "limited quantity of product and unlimited wants " or scarcity. The production possibilities graph was also brought up which lead into opportunity cost and how something must be sacrificed in order to gain something else. This leads to trade and the benefits of comparative advantages between two parties. These concepts are beneficial to taking the AP Exam because they are the foundation of Micro Econ.
crystal lam
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I watched Mr. Clifford's Basics of Economics 1.1, the Production Possibilities Curve. It gives a good review of the PPC using an examples of materialistic items like hats and videos, focusing on the idea that there are tradeoffs that must be made in order to create any combination of two items. He also demonstrated how to calculate the opportunity cost of producing any certain amount of hats or videos.
Axel Cuypers
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I studied the power point for Ch. 5 which is Marginal Utility and Consumer choice. This chapter talks about how utility is the satisfaction that a consumer gets from the good they bought. This chapter also talks about the Law of Diminishing Returns, this is the effect of As a good continues to be consumed, its marginal utility decreases, this applies to EVERY good. This is a helpful activity in order to prepare for the AP exam since most of what's covered in this chapter will be in the exam, especially knowing how to calculate the marginal utility and the Diminishing Marginal Utility.
I watched the video with the ICDC guy and he talked about the basics of economics. He went over supply and demand and trade between different countries. This would help our studying because it gives us the topics and the basics over it so that if we don't know a certain subject or we forgot about it, we know exactly what we need to study.
ReplyDeleteFelix Chang
ReplyDeletePeriod 4
http://www.wachecon.com/documents/Micro%20Book%20Notes.pdf
Ch 23 if the lecture notes dicsuess we the different market structures. First the competitive market, with low partiers of entry and many sellers. Monopolistic competition, instead has differentiated products. oligopoly, with few sellers and high barriers of entry. Lastly, monopoly with a single seller and high barriers if entry.
Mackenzie Boudreau
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I watched the youtube video on Resource Markets, specifically about the market and minimum wage. The main points of this topic is that there is an inverse relationship between wage and the quantity of workers demanded. There is also a direct relationship between wage and the quantity of workers supplied. This video, and the others on this persons channel, will definetely help me on the AP exam since I will probably have to draw a graph of the relationship between wage and workers in the market.
Madeline Alcock
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I went through the profit maximation powerpoint. It started by defining the the profit maximization point. It showed various graphs were you can find the profit max point. It was a good review for the AP exam
Frankie Smith
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I really like Mr. Clifford's videos on Basic Economic concepts because they're easy to understand and I wouldn't get easily bored since there's actually a person speaking. His videos would be useful for the AP exams because they're easy to grasp the idea with and with repetition, you can keep more and more of the information on the material in your memory.
Period 6 Mr. Clifford's video is easy to understand and he goes into enough detail for you to have a good understanding of the material but not too much detail where you will not learn anything. This video is very useful to study due to how concise it is and interesting
ReplyDeleteAmber Alex
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I looked at the PowerPoint on elasticity. It defined elasticity and why it's relevant. He also provides a graph of the different scenarios of elasticy (inelastic/elastic). It also explains the elasticy formula. I find this source to be beneficial because it's informative, short and straight to the point.
Zoheb Hirani
ReplyDeletePeriod 4
I think that this will be very helpful for our exam because none of our teachers are really preparing us for the AP. These videos are really easy to digest, and there is really enough detail to really get all the important information for the test. I realy liked his videos on how unions affect the supply and demand charts. BUT OF COURSE, HE IS NOT AS GOOD A TEACHER AS YOU ARE MR. PYE ;)
Tiffany Smith
ReplyDeletePeriod 6
I viewed the powerpoint about the principals of economics and it went over the basics such as scarcity and factors of production. It. Also talked abot resources and the way the two different types are defined. This powerpoint also included basic definitions that will certainly be needed on the ap exam such as human capitol and entreprenuer. These powerpoints will be extremely helpful for the ap exam because it breifly and effectively goes over all need to know topics
Erin Keir
ReplyDelete6th Period
I watched the Mr. Clifford video on Perfect competition. Mr. Clifford explained the concept of law of diminishing returns and helped me understand that eventually, after hiring multiple people, you lose utility. Mr. Clifford also explained the key graphs and what each line means. This will help me for the AP exam because he helps explain any information missed