CHSE Odisha Business Economics study plan

Define production function, short run versus long run, and the law of variable proportions, and sketch total, average and marginal product curves from a worked table

Compute fixed, variable, average, marginal and total cost from a cost schedule and explain why the short-run average cost curve is U-shaped

Distinguish internal and external economies and diseconomies of scale with one business example each

Construct a demand schedule and curve, state the law of demand, and list the ceteris paribus factors that shift demand versus movements along the curve

Solve five numerical problems combining production and cost data under time pressure

Explain the difference between a change in demand and a change in quantity demanded, and between a change in supply and a change in quantity supplied

Derive market equilibrium algebraically from linear demand and supply equations and predict the effect of a price ceiling and a price floor on the market

Calculate price, income and cross elasticity of demand using the percentage and arc methods, and interpret the sign and magnitude of each result

Compute price elasticity of supply and classify goods as elastic, inelastic or unitary, linking each case to a business pricing decision

Apply elasticity to a real Odisha business scenario, such as a rice mill or handicraft seller, and justify a pricing recommendation

State the assumptions of the cardinal utility approach and derive the consumer's equilibrium condition using marginal utility per rupee spent

Derive an indifference curve map and budget line, and locate the consumer's optimum point graphically and algebraically

Compute total utility, marginal utility and consumer surplus from a given utility schedule

Distinguish business economics from traditional economics and explain the role of opportunity cost, marginal analysis and incremental reasoning in business decisions

Explain the scope, nature and significance of business economics and identify the objectives of a firm, including profit maximisation versus satisficing

Contrast perfect competition, monopoly, monopolistic competition and oligopoly on number of sellers, product differentiation, entry barriers and price-setting power

Derive the short-run equilibrium of a perfectly competitive firm using marginal cost equals marginal revenue, and identify shut-down and break-even points

Explain price discrimination under monopoly and evaluate its conditions and effects on consumers

Describe price leadership and kinked demand curve reasoning in oligopoly and link them to observed pricing in Indian telecom or cement markets

Compare monopoly and perfect competition on output, price and consumer welfare

Define GDP, GNP, NDP and NNP at market price and factor cost, and convert one into another using a numerical example

Distinguish the product, income and expenditure methods of measuring national income and explain why the three must give the same total

Identify the treatment of transfer payments, intermediate goods, second-hand sales and imputed rent in national income accounting

Explain the functions of money and the quantity theory of money, and compute the money multiplier from reserve ratio data

Describe the credit creation process of commercial banks and the instruments of monetary policy used by the Reserve Bank of India

Distinguish demand-pull from cost-push inflation and explain the effects of inflation on fixed-income earners and lenders

Explain the types of inflation and the policy measures used to control each, and compute the inflation rate from a price index series

Classify public expenditure and public revenue, and distinguish direct from indirect taxes with Indian examples

State the objectives of a government budget and distinguish revenue deficit, fiscal deficit and primary deficit

Interpret a simple budget statement and explain the role of fiscal policy in stabilising the economy

Explain the concept of public debt and its burden on future generations

Explain absolute and comparative advantage and compute opportunity cost ratios to determine the direction of trade between two countries

Describe the balance of trade and balance of payments, and classify transactions into current and capital accounts

Explain the functions of the World Trade Organization and evaluate one argument for and one against trade liberalisation for Indian agriculture

Identify the main instruments of trade policy, including tariffs, quotas and subsidies, and their effects on domestic price and quantity

Explain how the business environment, including economic, political, legal and technological factors, affects a firm's decisions

Revise all ten domains using the formula sheets and diagrams built in earlier weeks, spending more time on production, cost and market structures

Complete two full-length timed mock tests under exam conditions and score them against the marking scheme

Re-solve every previously incorrect numerical until each is correct without notes

Memorise and reproduce key diagrams, including cost curves, equilibrium diagrams and indifference curve maps, from memory

Review definitional questions on business economics, national income and public finance for precise wording