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AP Intermediate 1st Year Economics — practice by topic

Browse 226 questions across 6 Economics topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Economics topics

Market Equilibrium (50)Production and Costs (50)Theory of Consumer Behaviour & Demand (50)Macroeconomics: Income, Budget & Banking (42)Introduction to Microeconomics (29)Unit 1A: Basic Economic Concepts and Production Systems (5)

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When marginal utility is zero, total utility isRead the answer and worked solution →The branch of economics that studies the behaviour of individual units such as consumers and firms is:Read the answer and worked solution →The branch of economics that studies economy-wide aggregates such as national income and employment is:Read the answer and worked solution →The economist whose work 'The Wealth of Nations' makes him widely regarded as the father of economics is:Read the answer and worked solution →

Worked practice questions

When marginal utility is zero, total utility is

  1. negative
  2. minimum
  3. maximum
  4. zero
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Correct answer: C. maximum

Total utility is maximum at the point where marginal utility becomes zero beyond that MU turns negative and TU falls.

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The branch of economics that studies the behaviour of individual units such as consumers and firms is:

  1. public finance
  2. microeconomics
  3. econometrics
  4. macroeconomics
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Correct answer: B. microeconomics

Microeconomics studies individual units — consumers, firms, markets.

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The branch of economics that studies economy-wide aggregates such as national income and employment is:

  1. welfare economics
  2. macroeconomics
  3. microeconomics
  4. managerial economics
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Correct answer: B. macroeconomics

Macroeconomics studies aggregates — national income, employment, price level.

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How to practise

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