- Course type: Self-paced
- Available Lessons: 100
- Average Lesson Length: 8 min
Eligible for Certificate:
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1What Is Microeconomics? - Definition & Topics
This course can be found in: CLEP Test Prep
Thousands of practice questions, 30+ CLEP study guides, and 3,000+ test prep video lessons
Course SummaryThis study guide helps you review basic concepts of microeconomics in preparation for the College-Level Examination Program (CLEP) Principles of Microeconomics exam through a series of bite-sized lessons. This Study.com course was last updated in 2018.
To Start This Course Today
Try it risk-free for 30 days
Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
Related CLEP Courses
About This Course
Use this course to refresh your memory or learn the information you need to be familiar with when taking the CLEP Principles of Microeconomics exam. You can earn three transferable college credits when you successfully complete this exam.
The short lessons in this course take just 5-10 minutes to review and cover all the basics of microeconomics. You'll find lessons devoted to economic structures, supply and demand, price elasticity, consumer choice, production and public goods. The lessons contain key term definitions and detailed examples to ensure your full understanding and retention of this material. Video lessons are accessible 24/7 from any device, making it simple and convenient to study at your own pace, wherever and whenever is best for your schedule.
Check out our CLEP Preparation resources! We've got CLEP courses to teach you the material, comprehensive CLEP study guides to help you study, CLEP practice tests to test your knowledge, and CLEP informational articles to get you up to speed on testing logistics.
Syllabus & Course Information
This course is designed to ensure that you master the following objectives as you prepare to take the CLEP Principles of Microeconomics exam. You can make sure you've understood all of this material by taking the final CLEP Principles of Microeconomics practice test. After completing the course, you should be able to:
- Describe fundamental concepts in microeconomics
- Recognize the significance of consumer choice in economics
- Outline the role of market structure and firm behavior in economics
- Discuss economic structures and systems
- Explain supply and demand in markets
- Detail elasticity or markets in microeconomics
- Assess costs and production in economic markets
- Define factor markets in microeconomics
- Describe the role of public goods and government in microeconomics
- Discuss the role of government and public policy in microeconomics
There are no prerequisites for this course.
This course contains 10 individual chapters containing a total of 94 lessons. These lessons are presented in text and video formats and offer self-assessment quizzes that help you determine how much you have learned. Chapter exams and a final exam are available to help you measure your knowledge and readiness to take the CLEP Principles of Microeconomics exam.
CLEP Principles of Microeconomics Exam Information
This exam addresses many of the topics you would study in a standard economics course. You can apply the credits earned with this exam toward an undergraduate degree at one of the 2,900 colleges and universities that accept CLEP credits.
- Number of Questions: 80 questions
- Question Type: Mostly multiple-choice
- Time Limit: 90 minutes
- Number of Credits: 3 credits
- Exam Cost: $85
CLEP Principles of Microeconomics Exam Breakdown
|CLEP Exam Concept||Percent of the CLEP Exam||Approximate Number of Questions||Chapter Lessons|
|Basic Economic Concepts||8-14%||6-11 questions||16|
|The Nature and Functions of Product Markets||55-70%||44-56 questions||54|
|Factor Markets||8-14%||6-11 questions||10|
|Market Failure and the Role of Government||10-16%||8-12 questions||14|
Earn College Credit
You can earn three transferable college credits toward your degree by taking the CLEP Principles of Microeconomics exam. You can save on tuition costs and even earn your degree in a shorter period of time. This study guide is designed to be a quick-review tool that will help you prepare for this exam quickly and easily.
Study Schedule for the CLEP Principles of Microeconomics Exam
This course consists of approximately 13 hours of instruction. Study is self-paced, with convenient 24/7 accessibility to all lessons. Use the timetable below to determine how much study time you will need to fully prepare for this exam.
|Study Frequency||When You'll Be Ready for the Exam|
|3 hours a day; 3 days a week||1 and a half weeks|
|2 hours a day; 3 day a week||2 weeks|
|1 hour a day; 3 days a week||4 and a half weeks|
College-Level Examination Program (CLEP) is a registered trademark of The College Board, which is not affiliated with Study.com.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Research Schools, Degrees & Careers
Get the unbiased info you need to find the right school.
Browse Articles By Category
Browse an area of study or degree level.
- Biological and Biomedical Sciences
- Communications and Journalism
- Computer Sciences
- Culinary Arts and Personal Services
- Liberal Arts and Humanities
- Mechanic and Repair Technologies
- Medical and Health Professions
- Physical Sciences
- Transportation and Distribution
- Visual and Performing Arts
- College Student Uses Study.com for Psychology CLEP Preparation
- Study.com Updates
- Lowering College Costs with the College Level Examination Program
- PhD Program Guide on Study.com
- Online Microeconomics Course and Class Overviews
- How Study.com Helps You Improve Your Grades
- How to Guide Students Through Study.com's Courses
- College Student Uses Free Courses and the CLEP Exam to Earn Low-Cost Credits
- Student Passes Calculus CLEP Exam After Using Study.com's Online Videos to Study for Just Five Days
- Online Training Programs in Fraud Examination with Course Info
- Answers and detailed explanations to each question
- Video lessons to explain complicated concepts
Explore our library of over 75,000 lessons
- College Courses
- High School Courses
- Other Courses