Board of Secondary Education, Madhya Pradesh, Bhopal
Higher Secondary Examination Session 2026-27
Marking Scheme (अंक योजना)
| S.No. | Prescribed Parts, Chapters & Core Topics | Allocated Marks |
|---|---|---|
| PART-1: Introductory Microeconomics (व्यष्टि अर्थशास्त्र – एक परिचय) | ||
| 1 | Chapter 1: Introduction A simple economy, central problems of an economy, organisation of economic activities (centrally planned economy, market economy), positive and normative economics, microeconomics and macroeconomics, plan of the book. | 04 |
| 2 | Chapter 2: Theory of Consumer Behaviour Utility (cardinal utility analysis, ordinal utility analysis), consumer’s budget (budget set and budget line, changes in the budget set), optimal choice of the consumer, demand (demand curve and law of demand, derivation of demand curve from indifference curves and budget constraints, normal and inferior goods, substitutes and complements, shifts in the demand curve, movements along the demand curve and shifts in the demand curve), market demand, elasticity of demand (elasticity along a linear demand curve, factors determining price elasticity of demand for a good, elasticity and expenditure). | 15 |
| 3 | Chapter 3: Production and Costs Production function, short run and long run, total product, average product and marginal product, law of diminishing marginal product and law of variable proportions, shapes of total product, marginal product and average product curves, returns to scale, cost (short run costs, long run costs). | 10 |
| 4 | Chapter 4: The Theory of the Firm under Perfect Competition Perfect competition: defining characteristics, revenue, profit maximisation (case 1, case 2, case 3, profit maximisation problem graphical representation), supply curve of a firm (short run supply curve of a firm, long run supply curve of a firm, shut down point, normal profit and break-even point), determinants of a firm’s supply curve (technological progress, input prices), market supply curve, price elasticity of supply. | 05 |
| 5 | Chapter 5: Market Equilibrium Market equilibrium: fixed number of firms, market equilibrium: free entry and exit, equilibrium, excess demand, excess supply, applications (price ceiling, price floor). | 06 |
| PART-2: Introductory Macroeconomics (समष्टि अर्थशास्त्र – एक परिचय) | ||
| 6 | Chapter 1: Introduction Emergence of macroeconomics, context of the present book of macroeconomics. | 02 |
| 7 | Chapter 2: National Income Accounting Some basic concepts of macroeconomics, circular flow of income and methods of calculating national income (product or value added method, expenditure method, income method, factor cost, basic prices and market prices), some macroeconomic identities, nominal and real GDP, GDP and welfare. | 08 |
| 8 | Chapter 3: Money and Banking Functions of money, demand for money and supply of money (demand for money, supply of money), credit creation by the banking system (balance sheet of a fictional bank, limits to credit creation and money multiplier), policy instruments of monetary policy to control money supply. | 06 |
| 9 | Chapter 4: Determination of Income and Employment Aggregate demand and its components (consumption, income determination in a two-sector model), determination of equilibrium income in the short run (macroeconomic equilibrium with fixed price level, effect of change in aggregate demand on income and output, multiplier mechanism), some other concepts. | 12 |
| 10 | Chapter 5: Government Budget and the Economy 11 06 Grand Total: 80 Examination Guidelines & Instructions: Questions 1 to 5 will comprise 32 Objective Type Questions. Each question carries 01 Mark. Question No. 1 – Multiple Choice Questions (MCQs): 06 Marks Questions 6 to 15: Total 10 short answer conceptual questions. Each question carries 02 Marks. | |