Short-run production function: - fixed and variable factors of production - definition and calculation of total product, average product and marginal product - law of diminishing returns (law of variable proportions)

Short-run cost function: - definition and calculation of fixed costs (FC) and variable costs (VC) - definition and calculation of total, average and marginal costs (TC, AC, MC), including average total cost (ATC), total and average fixed costs (TFC, AFC) and total and average variable costs (TVC, AVC) - explanation of shape of short-run average cost and marginal cost curves

Long-run production function: - no fixed factors of production - returns to scale

Long-run cost function: - explanation of shape of long-run average cost curve - concept of minimum efficient scale

Relationship between economies of scale and decreasing average costs - Examining the relationship between economies of scale and average costs.

Internal and external economies of scale - Distinguishing between internal and external economies of scale.

Internal and external diseconomies of scale - Distinguishing between internal and external diseconomies of scale.

Definition and calculation of revenue: total, average and marginal revenue (TR, AR, MR) - Defining and calculating total revenue, average revenue, and marginal revenue.

Definition of normal, subnormal and supernormal profit - Defining different types of profit.

Calculation of supernormal and subnormal profit - Calculating supernormal and subnormal profits.

Perfect competition and imperfect competition: monopoly, monopolistic competition, oligopoly, natural monopoly - Defining different market structures: perfect competition, monopoly, monopolistic competition, oligopoly, and natural monopoly.

Structure of the listed markets as explained by number of buyers and sellers, product differentiation, degree of freedom of entry and availability of information - Analyzing the characteristics of different market structures based on key factors.