Karnataka II PUC Economics (KSEAB) study plan

Define scarcity, choice, opportunity cost and the central problems of an economy, and state them in your own words without notes

Distinguish microeconomics from macroeconomics and classify ten given economic statements into each category

Construct a production possibility frontier and explain shifts versus movements along it using two worked examples

List the assumptions behind a market economy and identify each assumption in a short real-world example

Derive the three methods of measuring national income conceptually and explain why the three should give the same total

Compute simple numericals on value added, income and expenditure methods using small hypothetical data sets

Classify items as final or intermediate goods and as stock or flow variables in a set of twenty items

Explain the circular flow of income in a two-sector economy and mark where leakages and injections occur

State the law of diminishing marginal utility and illustrate it with a schedule and a diagram you draw from memory

Derive the demand curve from marginal utility and explain the assumptions that make the derivation valid

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

Distinguish cardinal and ordinal utility approaches and list the criticisms of each

Explain indifference curves, their properties and the budget line, and show the consumer equilibrium point on a diagram

Distinguish movement along a demand curve from a shift of the demand curve using five causes of each

Compute and interpret price, income and cross elasticity of demand from given data

Apply elasticity to a pricing scenario and justify the revenue outcome

Define production function, short run and long run, and distinguish fixed from variable factors with examples

State and apply the law of variable proportions, identifying the three stages on a diagram

Compute total product, average product and marginal product from a factor input schedule

Explain returns to scale and separate it from the law of variable proportions

Derive short-run cost curves from a cost schedule and explain the shape of each curve

Distinguish fixed, variable, average and marginal cost and compute each from given totals

Explain the relationship between marginal cost and average cost at the point of intersection

State the conditions of a firm's equilibrium under perfect competition using marginal cost and marginal revenue

Tabulate the features of perfect competition, monopoly, monopolistic competition and oligopoly in a comparison grid

Explain how price and output are determined under perfect competition in the short and long run

Describe price discrimination under monopoly and state its conditions

Interpret a simple demand and supply schedule to find equilibrium price and quantity after a shift

Revise all four domains using your own summary sheets and error log from weeks 1 to 7

Solve two full-length timed practice papers under exam conditions and score them

Re-teach the five weakest concepts aloud or in writing without referring to notes

Compile a final one-page formula and definition sheet spanning all domains