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Advanced Placement (AP) Macroeconomics (also known as AP Macro and AP Macroecon) is an Advanced Placement macroeconomics course for high school students that culminates in an exam offered by the College Board.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
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.
Advanced Placement (AP) Economics (also known as AP Econ) refers to two College Board Advanced Placement Program courses and exams addressing various aspects of the field of economics: AP Macroeconomics
Applied science is the application of the scientific method and scientific knowledge to attain practical goals. It includes a broad range of disciplines, such as engineering and medicine. Applied science is often contrasted with basic science, which is focused on advancing scientific theories and laws that explain and predict natural or other ...
Examples of Veblen goods are mostly luxurious items such as diamond, gold, precious stones, world-famous paintings, antiques etc. [6] Veblen goods appear to go against the law of demand because of their exclusivity appeal, in the sense that if a price of a luxurious and expensive product is increased, it may attract the status-conscious group ...
Additionally, despite evidence that people tend to be cooperative by nature (a prosocial behaviour), the presence of free-riders has been shown to cause cooperation to deteriorate, perpetuating the free-rider problem. [3] In social science, the free-rider problem is the question of how to limit free riding and its negative effects in these ...
AP exams (with few exceptions [1]) have a multiple-choice section and a free-response section. AP Studio Art requires students to submit a portfolio for review. AP Computer Science Principles requires students to complete the Create task, which is part of the AP grade for the class. AP exams were taken by subject in 2013.