•  

    Public and Private Goods:  What are they and how do they contribute to society?

    Final Project Link- https://sites.google.com/site/microeconomicsreview/public-and-private 
    Essential Questions
    How do you distinguish between a public and a private cost?
    How does a change in tax policy impact the supply curve, equilibrium price and equilibrium quantity?
    How do per unit taxes and lump sum taxes impact the marginal cost and average total cost curves?
    How should the government monitor social costs and social benefits?
     
     
    Key Concepts
     

     

    • Public Goods
    • Private Goods
    • Free Riders
    • Income Redistribution- relate to the Lorenz Curve
    • Income Tax
    • Progressive, Proportional, Regressive
    • Excise Taxes
    • Subsidy (Negative Tax)
    • Per Unit Tax
    • Lump Sum Tax
     
    Notes and Power Points
     
     
    Former FRQs on the AP Exam
     
    Helpful Websites
     

     

     

     

     
Last Modified on January 22, 2018