Go to one of the following:
Mr. Clifford's Microeconomics Videos
AP Microeconomics Powerpoints
Reffonomics AP Microeconomics Prep
Click on a link from one of these pages. Select one video, ppt, lesson, etc. from one of these sites. Give the source and title of the lesson and write a short synopsis of the lesson (3-5 sentences). Lastly tell me if you think that this would be valuable to someone preparing for the AP Micro exam. Do not copy a lesson that someone has already done.
Erica Wong
ReplyDeletePeriod 2
AP Microeconomics Powerpoints -> Chapter 7: Types of Businesses
There are 3 types of businesses: proprietorships, partnerships, and corporations. A sole proprietorship is a firm owned by one person who alone bears the responsibility and unlimited liability of the firm. A partnership is a firm owned by two or more people who each bear the responsibilities and liabilities. A corporation is a firm whose legal identity is separate from the people who own shares of stock. Stocks, bonds, and liability all come into play in their own way.
Oluwamuyiwa Peters
ReplyDeletePeriod 2
Reffonomics AP Microeconomics Prep-producer and consumer surplus
Consumer surplus is an economic measure of consumer benefit, which is calculated by analyzing the difference between what consumers are willing and able to pay for a good or service relative to its market price, or what they actually do spend on the good or service.
To calculate the total consumer surplus achieved in the market, we would want to calculate the area of the shaded grey triangle. If you think back to geometry class, you will recall that the formula for area of a triangle is ½ x base x height. In this case, the base of the triangle is the equilibrium quantity (QE).
I would use it to study, its simplified and organized.Only problem is it isn't a video.
Period 2
ReplyDeleteReffonomics AP Microeconomics: Monopsony
A monopsony is a single buyer in a market who can drive the purchase price down. A monopsonist must pay all existing wage workers the same pay as the last worker hired. That's why marginal factor cost of labor is greater than wage rate. I believe this site would be a great way for someone to study for the AP exam because it is interactive.
Carina Hung, Period 6
ReplyDeleteAP Microeconomics PowerPoints: Chapter 12 Oligopoly
In an oligopoly, there are only a few firms with close substitutes. High concentration ratios, meaning large percentages of sales, determine whether or not there is an oligopoly and whether or not an oligopoly is balanced or unbalanced. Game theory, consisting of the prisoner's dilemma, dominant strategy, and the Nash equilibrium, is a theory of strategy describing the behavior of a firm in an oligopoly. Oligopolies exist because of mergers, economies of scale, reputation, strategic barriers, and government barriers. Price discrimination is utilized to make the highest profit possible.
I believe that this source would be valuable for someone taking the AP exam because it reviews terms, provides examples, and introduces new turns in a PowerPoint not too lengthy.
Hannah Abie
ReplyDeleteperiod 2
Reffonomics AP Microeconomics : Monopoly 1
A monopoly is when there is a single seller on the market.the firm is the market and the market is the firm. I think that this website is great for AP review because there is so much information with every topic they offer.
Arij Moiz
ReplyDeletePeriod 2nd
AP Microeconomics PowerPoints > Chapter 13 Antitrust and Regulation.
The government agencies responsible for regulating business practices are currently stepping up their efforts to enforce antitrust legislation. Antitrust Laws and Trade Regulation prepares practitioners to confidently advise their clients and to meet the demands of a regulatory atmosphere where the law is complex and the penalties for violations are high.
Drew Garza
ReplyDeletePeriod 2
http://academics.triton.edu/faculty/tporebski/PPTnotes.htm, Chapter 8 Costs of Production
This powerpoint analyzes the relationship between inputs and outputs and how the costs of production affects the firm in the short and the long run. It also defines terms related to the subject such as fixed costs and variable costs, demonstrating each definition that is given on the graph that it corresponds with.
This subject information would definitely be useful for any student taking the AP exam because it is one of the basic foundations of economics and everything that revolves around it.
Jada Turner period 6
ReplyDeleteChapter:3 supply and demand
Demand refers to how much quantity of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good. Price, therefore, is a reflection of supply and demand.
May Liew
ReplyDeletePeriod 2
AP Microeconomics Powerpoints
Chapter 15: Wages and Labor Markets
When talking about a factor market, the roles of supply and demand are reversed: firms demand the factors and people supply them by offering labor. Factor demand is a derived demand which means that factor market is derived from demand for the product being sold. Marginal labor cost is essentially the change in a firm's total cost that results from adding one more worker to production while marginal revenue product is the change in total revenue that results from adding one more unit of a resource such as labor to production. As long as the marginal revenue product is greater than the wage rate, another worker will be hired because it would be profitable.
I think this resource is valuable because it touches on the main points that are important without dwelling too much into the chapter. It is concise but also filled with the the key lessons of the chapter that the student should be most focused on.
Jason Bailey, Period 2
ReplyDeleteMr. Clifford's AP Microeconomics Review: Positive Externalities
https://www.youtube.com/watch?v=hvMAec06_Uo&index=7&list=PL71234D006E682C13
Positive externalities are benefits that third parties receive that they are not involved in producing. The solution to positive externalities is usually to make the third parties pay for them in some way. For example, a few people don't take their flu shots but benefit from everyone else doing so. Therefore, the solution is to make them pay for flu shots as well. Positive externalities have demand at too small of a level.
This resource is useful because it covers half of the externality chapter in only a couple of minutes. For a student reviewing for the AP exam, it can most assuredly be helpful.
Period: 6
ReplyDeleteAP Microeconomics Powerpoints Chapter 11 Perfect competition, monopoly, and monopolistic competition
Perfect competition is a market structure in which a large number of firms all produce the same product with many buyers, and has an easy entry and exit in the market. A monopoly is a market structure in which only on seller sells a product for which there are no close substitutes and there are significant barriers to entry. Monopolistic competition is one of the most common market structures, it occurs when many sellers offer similar, but not standardized products and the entry is somewhat hard due to few companies blocking out competition. Perfect competition is the hardest to stay profitable in because firms come in when they see others earning a profit. Monopolistic competitions has companies who form agreements with other companies called cartels to block off competition. Monopolies control everything in their market.
This source is good for AP review because it has a the topics we learned and the power points have a lot of examples and many visuals that help explain the concept even more.
Period 2
ReplyDeleteReffonomics AP Microeconomics Prep: Price Ceiling/ Price Floor
A price floor is a government imposed price control or limit on how low a price can be charged for a product. A price ceiling is a government-imposed price control or limit on how high a price is charged for a product. They can create shortages or surpluses, creating market inefficiencies. The government knows this, but they pretty much just want reelection, not necessarily economic equilibrium.
I think this will come in handy, because at least we got to see a look at the graphs and what they represent, and apparently just understanding the basic concept might come in handy on an FRQ.
Tolu Ojo
ReplyDelete6th Period
AP Microeconomics Powerpoints: Chapter 3- Supply and Demand
Supply and Demand is a model for price and behavior in a competitive market, however, demand does not mean the same thing as "wants" or "needs." The demand curve serves to show the relationship between price and quantity demanded and a shift to the right relates an increase in demand, while a leftward shift means a decrease in demand.
This resource would be extremely useful because it covers everything that we leaned in class, but more concise, so its basically a big review to refresh our minds.
Devin Laird
ReplyDelete2nd period
Ap micro economics power points chapter 6 price ceilings and price floors
http://academics.triton.edu/faculty/tporebski/ppt/gch06macro.ppt
Price ceilings have a shortage and is regulated by the government. With a price ceiling coupons help determine who gets what. A price floor is a minimum price set by the government above the equilibrium price. A price floor creates a surplus rather than a price ceiling that creates a shortage.
I think the resource would be helpful to get just the basics of a certain concept, but I am sure there is a better source for finding more information.
Ronak Patel
ReplyDeletePeriod 6
Chapter 9: Profit Maximization
http://academics.triton.edu/faculty/tporebski/PPTnotes.htm
The primary goal for any business is to generate profit. Profits for these businesses are maximized when the marginal revenue is equal to marginal cost. Marginal revenue is the revenue generated by the production of one more unit. The marginal cost would, therefore, be the cost to make that additional unit.
This resource would be useful for review because it highlights the main aspects of profit maximization. An idea that we use throughout microeconomics.
DeleteKylee Brouwer
ReplyDelete2nd period
AP Microeconomics Powerpoints -> Chapter 4: Elasticity
Elasticity is how sensitive something is to change. Price Elasticity of Demand is the percentage change in quantity demanded divided by the percentage change in price. If this equation equals 0 - it is perfectly inelastic (vertical line); 1 - unitary elastic; more than 1 - elastic; less than 1 - inelastic; infinite - perfectly elastic (horizontal line). If consumers are unwilling to buy a product over a certain price, it will be a horizontal line for demand. If consumers are not as sensitive to a change in price, the demand curve will be more vertical. Elasticity can also apply to supply (% change in Q supplied/%change in price).
I think it would be very helpful to review this and inferior/normal/luxury goods that are affected by elasticity.
Sarah Rassam
ReplyDelete6th Period
Mr.Clifford's Microeconomics Videos > https://www.youtube.com/watch?v=D649L99JjnY (Market and Minimum Wage)
This video describes the inverse relationship between wage and the quantity of workers demanded. It is a direct relationship between wage and the quantity of workers supplied. When wage decreases, the quantity supply increases. This specific video and others found on Mr.Clifford's YouTube channel will 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.
Meyer Wilson
ReplyDeletePeriod 2
Resource: AP Microeconomics PowerPoints
Chapter 1: introduction to economics
This PowerPoint introduces the beginning's in key points of economics. From topics of scarcity, factors of production, natural resources, renewable resources, nonrenewable resources, capital, labor, types of economics, to markets. This PowerPoint goes over the very beginning's of economic so that you have a bases on what economics is and where you see in our society. This parking will be very useful to someone reviewing for their AP exam so that they can get any missing points they did not receive before and re-introduce themselves to the platform of what economics is.
Neethu Thampy
ReplyDeletePeriod : 6
AP Microeconomics PowerPoints
Chapter 10: Market Structures
The four main market structures are Monopoly, Oligopoly, Monopolistic Competition and Perfect Competition. A market is defined by the number of firms, the ease of entry and substitutability. Monopoly is a market structure with one firm producing goods that have no substitutes and the barriers to entry are high. Oligopoly has few sellers with close substitutes and is difficult to enter the market. Monopolistic market have many sellers with close substitutes and is relatively easy to enter. Perfect Competiton have large firms producing goods that are perfect substitutes and is easy to enter and exit the market. It also discusses the effect of advertising on each of the market structures.
I think it is a good source to review for the AP exam because this is one of the important topics on the test. It covers all the information and can be used as a quick review.
Tracy Colbert
ReplyDelete2nd
AP Microeconomics PowerPoints
Ch 12: Oligopoly
An oligopoly is a market structure consisting of only a few firms producing goods that are close substitutes. To determine if it is an oligopoly one can use the concentration ratio, however there is no magic number, but if a large percentage of the sales are from the 4 largest firms, it’s an Oligopoly. Game theory is a theory of strategy ascribed to a firm’s behavior in oligopoly, it is best to go with a firms most dominant strategy. I think this information is very helpful for the upcoming AP exams, and the power-points will most definitely help.
Alexus Guevarra
ReplyDeletePeriod - 3
AP Microeconomics PowerPoints
Ch. 18: Income Distributions
Different ways of making income includes wages, interest, rent, and profit. This chapter introduces the Lorenz Curve which shows the Shows the percentage of total income received by a given percentage of recipients whose incomes are arranged from smallest to largest. The numerical measure of the degree of income inequality is the gini coefficient. A number of 0 is perfect income equality
A number of 1 is perfect income inequality.
This comment has been removed by the author.
ReplyDeletePrasun Dhawan | Period 2
ReplyDeleteMr. Clifford's Microeconomics Videos
Demand and Supply Explained
In this video, the demand curve was explained in detail. The Law of Demand stated that quantity demanded and price are inversely proportional. There are three reasons that explain this law:
-Substitution Effect (changes in price causes consumers to purchase substitutes)
-Income Effect (changes in price affect the purchasing power of consumer's income)
-Law of Diminishing Marginal Utility (as more of a product is consumed, the satisfaction received per unit decreases)
*There is a difference between changes in quantity demanded (above) and the demand curve (below).
There five things that can affect the demand curve: changes in..
-tastes and preferences
-number of consumers
-price of related good
-income
-expectations
These "shifters" actually shift the demand curve left or right.
I think Mr. Clifford's Microeconomics videos on YouTube are a great AP review tool.
Joel George
ReplyDeleteAP Mircoeconomics Powerpoints: Chapter 22 - Equilibrium of National Income
The article talks about things like:
-Aggregate Expenditure-
The total spending by consumers, investors, government, and foreigners
-2 Ways of Looking at Equilibrium-
Income/expenditure approach
Savings/Investment approach
-Aggrevate Expediture Curve-
A curve that shows the quantity of aggregate expenditures at different levels of national income or GDP
This PowerPoint is not as useful as some of the other presentations when it comes to preparing for the AP exam. This is because we never really covered this topic when preparing for the AP exam and aggregate equilibrium only covers national income changes which Is mainly for macro not micro.
This comment has been removed by the author.
Delete2nd Period
DeletePeriod 6
ReplyDeleteMr. Clifford elasticity of demand
Elasticity measures sensitivity of quantity demanded to change in price. Coefficient of elasticity is % change in quantity divided by % change in price. Products with ineslastic demand have very few substitutes so the quantity is less sensitive to changes in price.
I think this review would be very helpful as it covers basic math and helps those confused on the difference between elastic and inelastic.
Edwin Cabrera
ReplyDelete6th Period
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.
Taylor Mott
ReplyDeletePeriod 6
AP Microeconomics Power points: Chapter 10 Market Structures
This power point explains all of the differences between the different market and market structures. It explains the four types of markets: monopoly, oligopoly, monopolistic competition, and perfect competition. It also explains the differences of each market stricture on their graphs. This information would be useful on the AP because knowing the different market structures would make answering multiple choice and free response questions much easier.
Bryan Pulliam
ReplyDeletePeriod 4
AP Microeconomics PowerPoints
Chapter 1 Introduction to Economics
After going through the power point and reviewing it. This would be a good review for anyone taking the AP exam because it gives them all the basics to economics. It has all the terms that you will learn more in depth in later chapters, but it gives a basic definition of the term for the introduction to economics. This is a good resource for an AP student to use to study for the AP exam.
Truth Thomas
ReplyDeletePeriod 4
Mr. Clifford: Price discriminating Monopoly
There is a clear difference between a regular monopoly and a price discriminating monopoly. In a regular monopoly, the demand curve and the marginal revenue curve are different, with the demand curve being higher than the marginal revenue curve. However, in a price discriminating curve the demand is equal to marginal revenue.
This information is important to learn for the AP exam because in the past this question has appeared on an AP exam, and could possibly show up again.
Jane Hua
ReplyDeletePeriod 6
Mr. Clifford’s MicroEconomics Videos
Price Ceilings and Floors
A price ceiling is the cap on a price the government sets so the price cannot go up to equilibrium (maximum legal price). A price floor is the minimum price buyers are expected to pay for a product. A floor is going to lead to a surplus and a ceiling is going to lead to a shortage. Therefore, competitive markets should be left alone because government price controls cause a misallocation of resources. This video lesson would be very helpful to someone preparing for the AP Micro exam because it summarizes a heavy load of information into a single 4 minute video.
Period 4
ReplyDeleteMr. Clifford's MicroEconomics Videos - Scarcity and Exchange
Economics is essentially the study of scarcity and choices. Whenever a choice is made the cost and benefits of the decision are weighed, incentives. Due to scarcity choices are limited and limitation often lead to exchange through negotiations. These voluntary exchanges occur when buyers and seller get together to negotiate based on their own self interest. Buyer typically want the lowest price while seller want the highest. The buyer and the seller walk away happy in voluntary exchanges, contrary to involuntary exchanges. Free markets that allow for voluntary exchanges are better the central markets that don't.
Christopher Yee
ReplyDeletePeriod 6
AP Microeconomics Power Points: Chapter 16 Unions and Monopsony
A labor union is an association of workers, each of whom transfers the right to negotiate wage rates, work hours, and working conditions to the association. Unions try to raise wages by increasing the demand of labor, decreasing the supply of labor, and through collective bargaining. A monopsony is a labor market with only one buyer. Monopsony wages are lower, hire less labor than in a perfectly competitive market. A strike is the withholding of a labor by a union when the collective bargaining process is unacceptable to the union.
Mervin Cherian
ReplyDeletePeriod: 6
AP Microeconomics Power Points: Chapter 3 Supply and Demand
Demand is not necessarily the same as the actual quantity purchased. It is also not the same as wants or needs. Supply is a model of price behavior in competitive markets. The law of demand states that When price increases the quantity demanded decreases and vice versa, ceteris paribus. A demand schedule Shows the specific quantity of a good or service that people are willing and able to buy at different prices. The Demand curve is a graph that depicts the relationship between price and quantity demanded. A change in demand is a change in the amount demanded of a good that is caused by factors other than a change in the price of that good.A rightward shift in the demand curve is an increase in demand, a leftward shift is a decrease in demand.
Humdaan Balagamwala
ReplyDeletePeriod 4
Reffonomics AP Microeconomics Prep Consumer and Producer Surplus
When a person pays less than they would be willing to pay, they have received a a consumer surplus. When consumers are willing to pay more than it costs to produce, it creates a producer surplus. The market consumer surplus and market producer surplus takes in to account every consumer and producer along the curve. To determine the are of the Producer surplus and Consumer surplus, you simply calculate the area of the triangle, base x height x 1/2.
Saniza Sunesara
ReplyDeleteperiod - 6th
Cliffer's video Micro 6.3 Negative Externalities: Econ Concepts in 60 Seconds-Externality
He explains negative externalities (aka: spillover costs- some other person was in charge of the transaction). There are two different supply curves. One is the marginal private cost which ignores the spillover costs and the other is the marginal social cost (MSC) which includes the additional costs to society. At optimum quantity the Marginal social Cost equals marginal social benefit.
I think this video was very helpful because he is drawing the lines as he is explaining which makes it better than reading ap review book.
Taylor Hunter
ReplyDeletePeriod 4
AP Microeconomics Power Points Ch. 23 Unemployment, Inflation and Fiscal policy.
The Bureau of Labor determines the unemployment statistics, they collect them through surveys. A discouraged Worker is a person who drops out of the work force because he or she cannot find a job. Sometimes unemployment is forced by frictional unemployment. I believe this ppt would be helpful to someone preparing for the ap exam because it teaches you the benefits and detriments of both fiscal policy and unemployment.
Heather Bennett: Period 6
ReplyDeleteAP Microeconomics Ch. 4: Elasticity
Elasticity is a term economists use to describe sensitivity. We measure the price elasticity of demand by the percentage change in quantity demanded divided by the percentage change in price. Cross elasticity of demand is the percentage change in the quantity demanded of one commodity resulting from a 1 percent change in price of another commodity. The ration of the percentage change in quantity demanded to the percentage change in income is called income elasticity of demand.
Elasticity is a part of the basics of economics so we can expect that there will be a fair amount of questions on elasticity on this exam.
Doris Chien
ReplyDeletePeriod 2
Mr. Clifford's AP Microeconomics Review: Negative Externalities
The free market ignores the spillover costs associated with cigarettes. Marginal Social Costs = Marginal Private Costs of the firm plus the external costs to society. MSC= MSB is the socially optimal quantity. At the free market quantity, cigarettes would be overproduced since MSC>MSB. A solution would be the government levying a per unit tax on cigarettes to achieve the optimal quantity. This video would be perfect for people who learn better visually, like myself!
Stephanie Urbina
ReplyDeletePeriod 6
AP micro economics powe points (chapter 18)
A lorenze curve is a curve that shows the percentages of total income received by a given percentage of recipients whose income are arranged from smalles to largest. A gini coefficient is a numerical measure of degree on income inequality in an economy. These two work together because the coefficient transforms the lorenze curve into a numerical value. However , the problem in measuring income distribution is life cycle income, family size/ effort , underground economy & taxes and in-kind income.
These powerpoints overall will help someone understand more about the Income Distribution and Poverty more due to the graphs given in the powerpoint to give a student that is preparing to take the AP exam a better understanding about that material
Stanley Johnson
ReplyDelete6th
2nd link
The federal reserve is the central bank of the United States and the most powerful financial institution in the world. The Federal Reserve Bank was founded by the U.S. Congress in 1913 to provide the nation with a safe, flexible and stable monetary and financial system. The federal Reserve is where the US currency is found is main head quarters for the financial system for the US.
This topic should be briefly known for the ap exam
Jacob Gassmann
ReplyDelete2nd period
https://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 someone on the AP as it helps them remember how total product is obtained.
Rushil Mistry
ReplyDeletePeriod 6th
Reffonomics AP Microeconomics Prep: Market Failure (Private Goods VS Public Goods)
Excludable means that people are prevented from entering or are excluded for some reason. Non-rivalrous means the consumption of the good of the good or service by an individual does not prevent others from consuming that good or service. A common good is a subtype of public good. When deciding whether a good is a private good or public good you must first understand concepts of exculadble and Non-Rivalrous.
This website if helpful since everything is short and easy. At the end they even have quizzes to test yourself and so this website is very useful. Yes I think using this to prepare for the AP exam would be good.
Kody Ngo
ReplyDeletePeriod 6
AP Microeconomics PowerPoints: Chapter 1- Introductions to Economics
Economics is the social science studying the production, distribution and consumption of goods and services. It is a complex social science that spans from mathematics to psychology. At its most basic, however, economics considers how a society provides for its needs. Its most basic need is survival; which requires food, clothing and shelter. Once those are covered, it can then look at more sophisticated commodities such as services, personal transport, entertainment, the list goes on. Today, this social science known as "Economics" tends to refer only to the type of economic thought which political economists refer to as Neoclassical Economics. It developed in the 18th century based on the idea that Economics can be analysed mathematically and scientifically.
I think that this website would be very helpful in studying for the AP exam because it is simple and very easy to use. The information is short, concise, and to the point.
There are 5 theories concerning what we should do about monopolies: regulate, nationalize, leave alone, concentrate or split up. Each has its positives and negatives. To maximize profit, a monopoly should charge the price where MR=MC. However, they can still make a profit where P=MC
ReplyDeletePower points: anti trust and regulation
Ap microeconomics chp. 9 profit maximazation
ReplyDeleteThis power point talks about at which price would be maximized. Also which quantity would profit be maximized. The profit maximizing point is MR=MC. I think it would be very useful as it is well designed, and easy to read and follow, as well as understand.
Click on a link from one of these pages. Select one video, ppt, lesson, etc. from one of these sites. Give the source and title of the lesson and write a short synopsis of the lesson (3-5 sentences). Lastly tell me if you think that this would be valuable to someone preparing for the AP Micro exam. Do not copy a lesson that someone has already done.
ReplyDeletePowerpoint notes - Ch 2 Production possibility
The power point explains a PPF. A PPF shows the max combos of goods that can be used when resources/tech are used efficiently. It also explains concepts like comparative advantage (output is greater when resources specialize at their greatest comparative advantage). I think the website would be useful but might be a little to specific when trying to review main topic ideas
AP Microeconomics Powerpoints -> Chapter 10: market structures
ReplyDeletethis would be a great study uide for it helps you grasp the concept of how market structures function if you have a weak understanding already of how they work. not to mention it is very late at night and i hate myself. in conclusion ten outta ten def recmommend
Hunter Bergfeld
ReplyDeletePeriod 2
AP Microeconomics powerpoints
Ch 1 (Principles of Economics)
Economics is the science of how people use resources in scarcity. It is about how poeple use resources.Land, Labor, Capitol, and Entrepreneurship are the factors of production. This does help me with the AP test to temember the basics
Period 4
ReplyDeleteI chose the PowerPoint notes & the topic was Oligopoly. It's the market structure of a few firms that produce a similar product. I found the PowerPoint to be helpful for reviews because it's short and concise
Zoe Leibowitz
ReplyDeletePeriod 2
AP Microeconomics Powerpoints: Chapter 4- Elasticity
This powerpoint covers elasticity, price elasticity of demand, and what factors determine elasticity. It also covers cross elasticity of demand, income elasticity of demand, inferior and normal goods, and price elasticity of supply. Although I won't be taking this particular AP exam, I think that if I was, this powerpoint would be helpful in understanding why some goods are more highly demanded than others and how that affects how they can be priced.
https://www.youtube.com/watch?v=n0LXkA9kato&index=12&list=PL6B2DBE4C2FC8F845
ReplyDeleteMr. Clifford AP Econ Videos: Deadweight Loss, Consumer & Producer Surplus- Microeconomics 2.7 (Holiday Edition)
Dead weight loss is the loss of efficiency when the market equilibrium is not achieved. When the price is higher, consumer surplus becomes smaller. Deadweight loss occurs all the time in taxes, tarrifs, monopolies, negative externalities, and positive externalities.
I believe the video is useful for review because it includes practice problems and a beginning overview of the concept. It also ties a bit of explanation of price ceilings and floors in the video.
Janelle Rodriguez
ReplyDelete2nd period
AP Microeconomics Power points: Chapter 6- Price ceilings and price floors
This is a really good power point that discusses the economic affects of price ceilings and floors, I do not really remember going over this topic so it is a good refresher and the power point also explains what price ceilings and floors are. A price ceiling wold be rent control and a price floor would be the government setting a price wage point above market equilibrium price. The power point also gives a graph which represents both the point of price ceilings and price floors. This was a good resource to use and should be used when studying for the AP exam.
2nd period Elian Basanta
ReplyDeleteThe Name of the Video is Microeconomics monopoly deadweight loss AP review. the source of this video is from Youtube and created by Mr. Clifford
On it the teacher explains the graph of a monopoly while comparing it to a perfect competition. he goes on to explain that monopolies underproduce and place a higher price than if the company was a perfect competitive firm. After explaining the way that monopolies set their prices, he explains that consumer surplus is anywhere above the set price of the product. And the deadweight loss is the consumers that they lose due to the high prices that they put out.
I think this is a valuable piece of study material but its not enough and more lessons should be studied
Raunak Jose
ReplyDeletePeriod 6
Ruffonomics: Micro: Deadweight Loss
"Deadweight loss is the economic INEFFICIENCY that occurs when the price is above or below the perfectly competitive market price." Allocative efficiency is another word for the perfectly competitive market price which is where MR = MC. When it comes to deadweight loss, there is both consumer and producer deadweight loss. Consumer deadweight loss is when the price is too high for the consumers who were only willing to pay the market price so they do not buy the product. Producer deadweight loss is where the producer doesn't want to sell their product for the higher price and therefore the supply goes down hence the deadweight loss.
This lesson does seem valuable in teaching students about this topic for the AP. There are engaging graphs that can be used with the reading to better understand the topic.
DeletePriyanka Ranchod
ReplyDeletePeriod 6
Refonomics Monopoly Pat 1
http://reffonomics.com/Monopoly.html
A monopolies when there is a single seller in the market. The market and the firm are both synonyms. Most monopolies are patented, copyrighted, and/or trademarked. A single-price non discriminating monopoly is one in which the same price is charged to each and every consumer.
I believe this outline of notes will help one prepare for the AP. It is a very thorough website that is sectioned into a means that makes it rather navigable. 8/10 recommend. This website does lack the use of many examples, i think it should have more.
Joshua Biju
ReplyDelete6th Period
Mr.Clifford's Microeconomics Videos https://www.youtube.com/watch?v=JdCgu1sOPDo-Economies of Scale
Economies of scale is when the long run average costs fall as more output is produced. Economies of scale is the idea that getting bigger is not necessarily more expensive. In fact in economies of scale getting bigger is cheaper. Companies that are producing at a larger scale can afford new equipment to increase output. Bigger companies are able to buy more resources in bulk and save money. The total costs might be higher but the average costs is lower.
Sarah Johnson
ReplyDelete2nd Period
Mr. Clifford's Microeconomics review video: Econ 2.3 Shifting Demand and Supply
This video effectively explains the various ways in which a graph of supply and demand can be shifted (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.
Robey Lukose; Period 2
ReplyDeleteReffonomics.com - Oligopolies
This webpage reviews the topic of Oligopolies. It explains what they are and their characteristics. It summarizes Oligopolies to be price searcher and to be interdependent on other firms in the industry. When a firm joins an Oligopoly, there are a few barriers. In addition, an Oligopolist differentiates their product. The webpage also goes to describe game theory along with dominant strategy and how it is reached when the deal is best for that certain individual. Lastly, it goes into detail about the interdependence, or how an action of one firm effects another. I think this webpage is useful and makes the topic understandable.
Asare Dua
ReplyDeletePeriod 4
AP Microeconomics Power points: Chapter 7 types of businesses
The powerpoint establishes the types of business and how they function and operate. There are three forms of business proprietorship's, partnerships, and corporations. It lists the advantages and disadvantages of running each type of business. The power point would instrumental in helping students differentiate between forms of business.
Period 4
ReplyDeletePowerpoints Chapter 20:Gross Domestic Product Accounting
This powerpoint reviews,the principle of GDPs or gross domestic prodcuts.The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period; you can think of it as the size of the economy. Currently, the United States has a GDP of $18,869.4 billion according to this particular powerpoint. This power point also reviews, the four types of indirect business taxes. These taxes consist of;
-general sales taxes
-excise taxes
-customs duties
-business property taxes
-license fees
This particular powerpoint although informative, is not exactly useful for the Economics AP exam.The percentage of probability that this subject will be on the AP exam is about 2%.
Hareem Farooq Period 6
ReplyDeletePowerpoint chapter 2
This powerpoint talks about ProductionPossibilities Frontier. It talks about how PPF is a graph shows the different combinations of productus produced. It also talks about how the shape of the PPF can identify what is happening to the opportunity costs. It also shows the difference between comparative and absolute advantages. I believe these powerpoints and mostly this one is very helpful for review because it is a short review of everything we learned instead of going over every single detail.
2nd
ReplyDeletehttp://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.
New Year 2019 Status for WhatsApp
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