CLEP Microeconomics

CLEP Microeconomics covers the fundamental concepts of microeconomic theory, including supply and demand, market structures, and the behavior of consumers and firms.

Understanding Supply and DemandElasticity and Its ImportanceConsumer and Producer Behavior
Market Structures: Perfect Competition to MonopolyProduction Costs and Profit MaximizationGovernment Intervention and Market Failure
Analyzing Prices and TrendsMaking Smart Consumer ChoicesEvaluating Business Decisions
Mastering Graphs and FormulasTime Management and Test-Taking
Understanding Supply...Elasticity and Its I...Consumer and Produce...Market Structures: P...Production Costs and...Government Intervent...Analyzing Prices and...Making Smart Consume...Evaluating Business ...Mastering Graphs and...Time Management and ...
Study Strategies

Time Management and Test-Taking

Stay Calm and Pace Yourself

CLEP Microeconomics is timed, so practice answering questions quickly. Don't get stuck on one problem. Use process of elimination and move on if you're unsure, coming back if you have time.

Key Strategies

  • Read all answer choices before selecting one.
  • Mark tough questions and return to them later.
  • Use logic and your knowledge of microeconomic concepts to rule out unlikely answers.

Examples

  • Skipping a tricky calculation and returning to it after answering easier questions.

  • Using process of elimination to narrow down choices on a question about market failure.