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1、APECONOMICSQuantEconomicsAccountingCorporateFinanceEquityForex/CommodityFixedIncomeDerivativesAlternativePortfolioFinancialAnalystEconomicsWhyAP?CollegelevelcourseGrantstudentcreditHigherchancesforcollegeenrollmentAboutthetest%ofGradeNumberofQuestionsTimeAllottedReadingPeriodSectionI662/36070minut
2、esSectionII331/31long+2short50minutes10minutesAboutthetestAPScoreQualification5Extremelywellqualified4Wellqualified3Qualified2Possiblyqualified1Norecommendation1.BasicsofMicro-econEconomicsdefinedEconomicsstudieshowresourcesareusedandhowcanbeusedtotheirfullestpotential.Macroeconomics:involvesecono
3、micproblemsconcernedbythenation.Microeconomics:concernstheeconomicproblemsfacedbyindividuals,orfirms.成本支出要素需求销售收入产品供给产品需求消费支出要素收入要素供给企业家庭产品市场要素市场实物流货币流MicroeconomicsPositivevs.normativeeconomicsPositiveeconomics:isbasedonthescientificmethods,Normativeeconomics:involvesone’svaluejudgments,personalo
4、pinions,andnotbasedonascientificinvestigation.Neitherofthesetwohassuperiority.ResourcesAresourceisanythingthatcanbeusedtoproduceagoodorservice.Itincludes:Land:allnaturalresources.Labor:allhumanattributesthatareproductive,eg.laborforce,labortime,intellectualcapability,etc.Capital:productiveequipmen
5、tormachinery,eg.factory,computers,paperclips,etc.OpportunitycostOpcostiswhatmustbesacrificedtoobtainsomething.Inthemacroeconomics,opcostis:ifanationdecidestoproduceonemoreunitofproductA,howmanyunitsofproductBwillhavetobesacrificed?E.g.oppcostofguns=1.67poundsbutter/gunOroppcostofbutter=0.6guns/but
6、terProductionpossibilitiesfrontierGunsButter1830Allthepointsalongthefrontierareequal:A,B,CPointsinsidethefrontier,D:resourcesarenotfullyused.Pointsoutsidethefrontier,E:cannotbereached.BACDEProductionpossibilitiesfrontiershiftsTwofactorscausethefrontiertoshift:Changesintheamountofresources:Land:new
7、territoryfound,oilexploitationLabor:populationgrowth,Capital:placenewequipmentChangesintechnologyandproductivity.Positivechange:→,reach“E”Negativechange:←,reach“D”LawofincreasingcostsGunsButter1525BAAsmoreofaprod
