The Principles of Microeconomics CLEP study guide will teach you everything you need to know to pass the Principles of Microeconomics CLEP test. You’ll learn and apply knowledge of market systems, social systems and economies of scale. Don’t let the “big” words scare you. Once you’ve mastered a few concepts, you’ll feel confident talking about economies. Using our comprehensive system, you’ll study with our flashcards (add your own if you want) to drill down on specific subjects that are giving you trouble. $35.97 Credits: 3 Difficulty: 3 Number of Questions: 80
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	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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