CLEP* Study Guide
Principles of Microeconomics
The only study guide that teaches you what you need to know to pass the Principles of Microeconomics exam (with no prior knowledge needed), and is constantly updated based on student feedback to guarantee you the best possible results.
About the CLEP* Exam
The Principles of Microeconomics CLEP exam is designed to test the student on material that is covered in a typical first-year undergraduate Microeconomics course. Just like our course for Macroeconomics, our course on Microeconomics makes a potentially difficult subject easy, using lots of graphs to help you to visualize relationships between economic variables and gain a deeper understanding of economic principles and theory.
Topics Covered in this Course
Basic Economic Concepts
Scarcity, choice, and opportunity costs
Production possibilities curve
Comparative advantage, specialization, and trade
Marginal analysis
The Nature and Functions of Product Markets
Supply and demand
Theory of consumer choice
Production and costs
Firm behavior and market structure
Factor Markets
Marginal revenue product
Labor market and firms' hiring of labor
Market distribution of income
Market Failure and the Role of Government
Externalities
Public goods
Public policy to promote competition
Income distribution
Customer Test Results for this Exam
588 users submitted test results since January, 2006.
537 of those users reported a passing score (91%).
Below are ten of the most recent user-submitted test results. These are unfiltered, real results that were submitted by InstantCert students:
| Date of Exam | Result | Score |
| Oct 14, 2024 | passed | 55 |
| Sep 19, 2024 | passed | 67 |
| Aug 28, 2024 | passed | 67 |
| Aug 27, 2024 | failed | 49 |
| Jul 29, 2024 | passed | 54 |
| Jul 1, 2024 | failed | 42 |
| Jun 25, 2024 | passed | 57 |
| Jun 14, 2024 | passed | 55 |
| May 28, 2024 | passed | 69 |
| May 7, 2024 | failed | 45 |
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