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Principles of Microeconomics CLEP STudy Guide |
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Principles of Microeconomics CLEP Test Description
The Principles of Microeconomics CLEP test covers the information that
is taught in one semester introductory course at the college level in
microeconomics. It covers the information about economics on a smaller
scale, i.e., the consumer scale.
You will be tested on measurement concepts supply, demand, price elasticity,
utility, price and quantity controls, equity, regulation and monopolies.
You need to understand the purchasing decisions for firms and individuals.
It is important to understand that you do not have to answer each and
every question correct to get a passing score. You need to get 50 of 100
correct (in most cases) to pass. The people the write the CLEP tests want
you to know about half of the information to get a passing score. |
| $26.95 |
ISBN: 978-1-61433-026-4 |
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CLEP Credits: 3 |
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CLEP Difficulty: 3 |
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Number of Questions on the CLEP Test: 80
ACE Recommended Passing Score: 50 |
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Free Sample CLEP Questions Online
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Included in the Principles of Microeconomics CLEP Study Guide |
- Basic Economic Concepts
- Scarcity the Nature of Economic Systems
- Opportunity Costs and Productive Possibilities
- Comparative Advantage
- Supply and Demand
- Demand, Supply and Price Determination
- Consumer Demand
- Diminishing Marginal Benefit
- Consumer's Surplus
- Shift in Demand Curve
- Elasticity of Demand
- Firm's Production Cost and Revenue
- Revenue
- Long run costs and economies of scale
- Long Period Total Cost Curves
- Economies of scale
- Profit Maximization
- Perfect Competition
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- Monopolistic Competition
- Monopoly
- Efficiency
- 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
- Public Good
- Sample CLEP Test Questions
- Test-Taking Strategies
- What Your Score Means
- Test Preparation
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