The Principles of Microeconomics CLEP study guide will teach you everything you need to know to pass the Principles of Microeconomics CLEP test. You’ll learn and apply knowledge of market systems, social systems and economies of scale. Don’t let the “big” words scare you. Once you’ve mastered a few concepts, you’ll feel confident talking about economies.
Using our comprehensive system, you’ll study with our flashcards (add your own if you want) to drill down on specific subjects that are giving you trouble.
Number of Questions: 80
Included in the Principles of Microeconomics CLEP Study Guide
Basic Economic Concepts
Scarcity the Nature of Economic Systems
Opportunity Costs and Productive Possibilities
Supply and Demand
Demand, Supply and Price Determination
Diminishing Marginal Benefit
Shift in Demand Curve
Elasticity of Demand
Firm's Production Cost and Revenue
Long run costs and economies of scale
Long Period Total Cost Curves
Economies of scale
Factor Market Derived Demand
Determination of Wages and Other Factors of Production
Distribution of Income
Market Failures and the Role of Government
Externalities, Public Good and Information Economics
Externalities: a.k.a. spillover or Third Party effect
Sample CLEP Test Questions
What Your Score Means
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