Consumer income drives consumer demand. A set of problems explores what happens to a dairy business when consumers all of a sudden don't have as much money to spend on milk. Other prompts from College Board examine supply and demand curves and a t-shirt company seeking to maximize profits. 

Concepts

income, supply and demand, profit, equilibrium, markets, microeconomics, test preparation

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Additional Tags

social studies

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Instructional Ideas

• Create a group activity to allow scholars to solve the prompts in teams
• Offer all or part of resource to practice for the AP® exam

Classroom Considerations

• Includes the free-response questions from the 2005 AP® exam in microeconomics

Pros

• Scoring guidelines simplify feedback
• Resource allows for authentic practice for a high-stakes exam

Cons

• None

Common Core

RH.9-10.1 RH.9-10.2 RH.9-10.3 RH.9-10.10 RH.11-12.1 RH.11-12.2 RH.11-12.3 RH.11-12.10