CLEP Prep/CLEP Principles of Microeconomics
CLEP Exam

CLEP Principles of Microeconomics Prep

Build a focused plan with exam-level practice. Save $1,200+ in tuition when you pass.

💰

$97

Exam Cost

⏱️

113 min

Time

🎓

3-6

Credits

~50/80

Passing

Who this is good for

Students who have seen at least some CLEP Principles of Microeconomics material before, need a focused refresh, and want to know what to study next before paying for the CLEP exam.

Who should slow down

If this subject is completely new, do not treat "7 days" as a promise. Start with the free resources and wait to schedule until realistic practice is around 70-80%.

Common traps

Memorizing definitions without practicing application questions, skipping weak units because they feel uncomfortable, and booking before you have taken a timed readiness check.

Before you schedule

Confirm your college accepts this CLEP, check the required score, practice the weakest units, then use a mock or diagnostic as your final go/no-go signal.

How these questions are made: practice items are AI-generated, then independently re-solved and checked against deterministic quality gates (answer-key consistency, complete stems, on-blueprint scope). Use PrepLion to find and drill your weak areas — and confirm test-day readiness with official College Board CLEP materials too.

What You'll Study

Unit 1: Supply and Demand

law of demandsupply shiftersequilibrium priceprice ceilings and floorsconsumer surplus and producer surplusdeadweight loss from taxestax incidence (elastic vs inelastic)

Unit 2: Elasticity and Consumer Choice

price elasticity of demandcross-price elasticityincome elasticitymarginal utility

Unit 3: Market Structures

perfect competitionmonopoly deadweight lossmonopolistic competitionoligopoly and game theoryprice discrimination (1st/2nd/3rd degree)natural monopolyNash equilibrium in oligopoly

Unit 4: Factor Markets

marginal revenue productlabor demand and supplywage determinationmonopsony

Unit 5: Market Failure and Government

externalities and Pigouvian taxespublic goods and free ridersasymmetric informationantitrust policy

About these external resources

Links below point to publicly available third-party study materials (Khan Academy, YouTube creators, Modern States, OpenStax, College Board, etc.). PrepLion does not own, host, or modify this content. We list links as a study aid only — each resource is the property of its respective owner and is subject to their terms of service.

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Linked content may be removed, paywalled, or changed by its owner at any time. We make no warranty as to its accuracy, availability, or suitability for any exam.

Before you start studying

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Course Notes

- OpenStax Principles of Microeconomics 3e (openstax.org/books/principles-microeconomics-3e): CC BY 4.0 - Khan Academy Microeconomics (khanacademy.org/economics-finance-domain/microeconomics) - CORE Econ (core-econ.org)

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