Projects, Assignments are very important

Section A 10 marks

Conceptual answers

Section B

2 ques

10 marks 10 marks

Section C

10 marks (case study)

Mechanic question

Markets (two case studies), differing characteristics of markets. Perfect Competition is best market
for consumers.

Nature and Cost

Opportunity cost Very important

Expansion, contraction, decrease in supply, increase in supply

Equilibrium, will depend on demand and supply

Income elasticity

Linkages

Price elasticity (Case study)

Production and Cost (1 case study Is important in this), Breakeven Point and Shut down point

Skimming and Penetration price so low to eliminate competition, Predatory pricing (price so low to
eliminate competition)

Price taker

Monopolistic completion Product differentiation