Information on AP Microeconomics Exam
The exam is of approximately two hours and 10 minutes and contain two sections-multiple choice and free response. The multiple choice section comprises of ⅔ of the final exam grade and the free response section comprises of ⅓ of the final exam grade.
Section I: Multiple Choice-60 Questions; 1 Hour
The multiple choice section will covered the following topics:
- Basic Economic Concepts (8%-14%)
- Nature and Functions of Product Markets (55%-70%)
- Factor Markets (10%-18%)
- Market Failure and Government role (12%-18%)
- Total scores of the MCQ section will be based on the correct answers. Points are neither deducted for incorrect answers nor points are awarded for unanswered questions.
Section II: Free Response-3 Questions; 1 Hour with a Compulsory 10 Minute Reading Period
- 1 long essay questions
- 2 short essay questions
Essays usually require such skills that link two or more content areas, analysing and evaluating various economic conditions and microeconomic principles. The best essays are the example of analytical and organizational skills, and whenever required draw clear diagrams which will clarify the analysis. Some questions will be having graphs that you'll need to interpret and in some questions graphs will be asked.
50% of the section score will be based on the long essay and each short essay is worth of ¼ to the free-response score.