Principles of Microeconomics CLEP Test

The Principles of Microeconomics CLEP Test covers the material that is taught in a one-semester class at the 101 college level in introductory microeconomics. This area of economics deals on the smaller, consumer level. Students will need to be able to apply analytical information to solve real world and hypothetical problems. An understanding of how free markets work and consumers influences and purchasing power is critical for this CLEP test.

You will need to know how to determine the outcome in a market structure based on given information on the CLEP test. Wages, allocation on resources, economic efficiency, distribution of income are all included on the CLEP test.

You will need to answer 80 questions in 90 minutes. There is no penalty for guessing on the test and there are some pretest questions included that are not scored.

Credits: 3

Number of Questions: 80

Time to complete the test: 90 min

Rank of Difficulty: 3

Information you will need to know for the Microeconomic CLEP test includes:

• scarcity
• opportunity cost
• price controls
• elasticity
• total utility
• margins
• long and short run costs
• profit
• competition
• monopoly
• efficiency
• oligopoly
• excess capacity
• distribution of income
• factor markets
• externalities
• public goods
• private goods
• antitrust
• regulation
  
  

The sections of the Marketing CLEP test are broken down as follows:

8-14% Basic Economic Concepts
55-70% The Nature and Functions of Product Markets
15-20% Supply and demand
5-10% Theory of consumer choice
10-15% Production and costs
25-35% Firm behavior and market structure
10-18% Factor Markets
12-18% Market Failure and the Role of Government

Principles of Microeconomics CLEP Test ...................................$55.00 $34.97

Testimonials

I just wanted to drop you guys a line and tell you that I passed my final CLEP exam last Monday which gives me all of the credits I need to graduate. I have taken 30 credits worth of CLEP exams and I’ve passed them all by using your study guides. I actually purchased one of your study guides and failed my first test. I didn’t fail because of your guide though, I failed because I didn’t manage my time effectively and I ran short. I looked at your study guide after failing though, and a lot of the information on your study guide was very relevant to what was on the test. So, I tried again with a different test and a different study guide of yours. I passed. This pattern continues for 30 credits. I graduate on June 9th thanks to you guys, so I wanted to say thank you. The guides were worth every penny. Thanks, -John S 5/21/07