---
title: "AP Microeconomics Key Terms"
description: "499 AP Microeconomics key terms and definitions organized by AP® Course and Exam Description unit."
canonical: "https://fiveable.me/ap-micro/key-terms"
type: "key-terms-hub"
subject: "AP Microeconomics"
---

# AP Microeconomics Key Terms

## Overview

499 AP Microeconomics key terms and definitions organized by AP® Course and Exam Description unit.

## Units

- [Unit 1: Unit 1 – Basic Economic Concepts](/ap-micro/key-terms/unit/1): 65 terms across 6 topics
- [Unit 2: Unit 2 – Supply and Demand](/ap-micro/key-terms/unit/2): 116 terms across 9 topics
- [Unit 3: Unit 3 – Production, Cost, and the Perfect Competition Model](/ap-micro/key-terms/unit/3): 99 terms across 7 topics
- [Unit 4: Unit 4 – Imperfect Competition](/ap-micro/key-terms/unit/4): 67 terms across 5 topics
- [Unit 5: Unit 5 – Factor Markets](/ap-micro/key-terms/unit/5): 47 terms across 4 topics
- [Unit 6: Unit 6 – Market Failure and the Role of Government](/ap-micro/key-terms/unit/6): 105 terms across 5 topics

## Related Resources

- [AP Microeconomics subject hub](/ap-micro)
- [All AP® key terms](/key-terms)

## About This Document

Canonical Fiveable pages are available as Markdown at the same path plus `.md`.

- [llms.txt](https://fiveable.me/llms.txt): index of Fiveable's sections and URL patterns
- [llms-full.txt](https://fiveable.me/llms-full.txt): complete subject and unit listing
- [MCP server](https://fiveable.me/mcp): call Fiveable as tools instead of fetching pages (`https://fiveable.me/api/mcp`)
- [MCP server for AP teachers](https://fiveable.me/mcp/teachers): a teacher's classes, assignments and AP-rubric grading (`https://fiveable.me/api/mcp/teacher`)