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Advanced Placement (AP) Microeconomics (also known as AP Micro) is a course offered by the College Board as part of the Advanced Placement Program for high school students interested in college-level coursework in microeconomics and/or gaining advanced standing in college.
The cobweb model or cobweb theory is an economic model that explains why prices may be subjected to periodic fluctuations in certain types of markets.It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed.
The SAT Subject Test in Mathematics Level 1 (formerly known as Math I or MathIC (the "C" representing the use of a calculator)) was the name of a one-hour multiple choice test given on algebra, geometry, basic trigonometry, algebraic functions, elementary statistics and basic foundations of calculus [1] by The College Board.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Microeconomics analyzes the market mechanisms that enable buyers and sellers to establish relative prices among goods and services. Shown is a marketplace in Delhi. Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce ...
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One of the College Board's more recent additions, [1] the AP Statistics exam was first administered in May 1996 to supplement the AP program's math offerings, which had previously consisted of only AP Calculus AB and BC. [2] In the United States, enrollment in AP Statistics classes has increased at a higher rate than in any other AP class. [3]
In the late nineteenth century, elite colleges and universities had their own entrance exams and they required candidates to travel to the school to take the tests. [10] To better organize matters, the College Board, a consortium of colleges in the northeastern United States, was formed in late 1899 to establish a nationally administered, uniform set of essay tests based on the curricula of ...