Where to begin?

It has been a common misconception amongst Competitive Programming(hereafter CP) beginners, that Python is a slower language than C++ and they must learn C++ for CP. Some of the rumours I've come across were Python submissions giving TLE but the same algorithm implemented in C++ cleared the test cases. I intend to write this blog to clear these misconceptions and give a beginner-friendly guide for CP using Python. Before diving further it would be helpful if you are fairly aware of Python syntax.

The $$$10^8$$$ thumb rule

Before jumping in to code any question one needs to think of the logic for it. Every question is given a particular time limit within which your code needs to complete execution and your algorithm needs to be efficient to do so. The thumb rule says that for a question with a 1-sec time limit, your algorithm must perform at most $$$10^8$$$ number of operations. If the time complexity goes beyond this you will certainly get TLE.