Question

Notes for class -12 macroeconomics chapter -13 market equilibrium under perfect competition and effects of shifts in demand and supply

8 POINTS!!!

Answer 1

The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.