Cheat Sheet for AP Economics

Chapter 1: Slope: rise/run. Equation of a line: y=mx+b. Chapter 2: Factors of Production – land labor capital entrepreneurial ability. Factor income: WRIP. Most optimal point of production on PPC: MB=MC. Chapter 3: Demand determinants: PINTE. Supply determinants: PRENTT. Shortage = QD-QS. Surplus = QS - QD. Chapter 6: Gross Domestic Product ... ................
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