Microeconomics is the branch of economics that looks at how the actions and decisions of individual consumers and businesses can have an effect on the economy overall. If you’re preparing for college, this is a course you may be required to take, depending on your major. If you are interested in taking an exam and getting credit for information you already know about microeconomics, you might want to consider the College Level Examination Program, or CLEP.

The CLEP is a multiple-choice exam with more than 75 questions. The CLEP covers topics like market failures and government’s role, the nature and functions of product markets, basic economic concepts, and factor markets. Students who take this exam are expected to analyze economic decisions, show their understanding of how free markets work and how resources are allocated; they must also show how customers make economic decisions for utility, and how businesses make economic decisions to maximize profits.

If you pass this exam, you’ll receive up to three credit hours for your college transcripts and be able to take courses beyond the introductory microeconomics course that many college students are required to complete, depending on your major.

If you’re looking for study tools for the CLEP Microeconomics exam, then Varsity Tutors’ Learning Tools have options for you, including free flashcards online. Each of the Flashcards for CLEP Microeconomics presents a single question and five possible answers. These questions and answers are very similar to what you’ll see on the CLEP Microeconomics exam, but they are likely not the exact questions that you’ll see.

When you’ve considered the answer for the question presented, and have chosen an answer, this Learning Tool offers immediate feedback. After clicking on your chosen answer, you will be told what the correct answer is. The flashcard will also give an explanation of what the correct answer is and of the concept behind the answer.

Some of the topics that are included in these flashcards include economies of scale, variable costs, price elasticity of supply, among other topics.

These flashcards allow you to have flexibility in how you choose to study. When you don’t want to sit down to take an entire practice test, or have just a few minutes to review, the CLEP Microeconomics Flashcards are a great option. Not only do they explain the correct answer, they allow you to skip through flashcards to focus on topics you’re struggling with. Unlike some online tools, these flashcards allow you to return to flashcards that you’ve already answered, in order to revisit content you’re comfortable with.

Varsity Tutors’ Learning Tools also offers other test preparation options, including Practice Tests, and the Question of the Day series, which presents a random topic from the CLEP Microeconomics subject matter, and will help you to see how ready you are for the test overall. If you create an account on the web site, you’ll be able to track your progress through the flashcards and have a record of which questions you answered incorrectly. There is also a flashcard creator that you can use to make your own personalized Flashcards for Microeconomics.