Principles of Microeconomics
Principles of Microeconomics covers how individuals, firms and markets make decisions about scarce resources. It is a shorter exam than macroeconomics and focuses on markets rather than policy.
Start practice testAbout this exam
The exam covers basic economic concepts, product markets, factor markets, and market failure with the role of government. Supply and demand underpins nearly everything, so mastering it pays off across the whole exam.
Firm behaviour under different market structures, from perfect competition to monopoly, is heavily tested. You should be able to compare price, output and efficiency across those structures.
The reasoning style rewards careful thinking about incentives and marginal change rather than memorisation.
Topic breakdown
Topic weights published by College Board.
How to study for this exam
- Work until supply and demand shifts are automatic, including the effect of taxes, subsidies and price controls.
- Build a comparison table of market structures and fill it from memory.
- Learn marginal analysis properly; many questions hinge on comparing marginal cost and marginal revenue.
- Practise elasticity calculations, which appear in most sittings.
How the practice test works
- Choose all units or a single unit to focus on.
- Set the number of questions and a time limit, or practise untimed.
- Filter by difficulty to warm up or push yourself.
- Retake as many times as you like — every attempt is free.
- Your recent sessions stay on this device so you can review them.
Common questions
Is microeconomics easier than macroeconomics?
Many students find it more concrete because the examples are small and familiar, but it demands sharper diagram work.
Do both exams together cover a full year?
At many colleges, yes. Check your institution's policy, since some award credit for only one.
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