JAC Class 12 economics Question Paper 2012 with Solution

About this paper

This is the Jharkhand Academic Council (JAC) Class 12 Economics paper from the 2012 board examination, with an answer written under every question. Each question is printed in Hindi and English, and the answers are written in Hindi. All 32 questions are compulsory and are split into Group A on microeconomics (Questions 1–16) and Group B on macroeconomics (Questions 17–32). Each group has five one-mark multiple-choice questions, five three-mark and three four-mark short answers, and three six-mark long answers, with word limits of 60, 70 and 100 words. Some questions offer an "Or" alternative. Full marks and time are not printed on this copy.

Exam

JAC Class 12

Subject

Economics

Year

2012

Questions

32

Pages

5

Answers included

Yes

Paper pattern

• Group A

  50 marks

  Microeconomics, Questions 1–16: five 1-mark multiple-choice questions, five 3-mark and three 4-mark short answers, three 6-mark long answers

• Group B

  50 marks

  Macroeconomics, Questions 17–32: five 1-mark multiple-choice questions, five 3-mark and three 4-mark short answers, three 6-mark long answers

Topics covered

• Central problems of an economy
• Consumer behaviour and utility
• Theory of demand
• Cost and revenue
• Perfect competition and monopoly
• Price determination and market equilibrium
• National income accounting
• Money and money supply
• Central bank and credit
• Government budget and deficits
• Balance of payments
• Full employment and unemployment

Questions from this paper

1. Explain the meaning of normal goods and inferior goods.
2. What do you mean by equilibrium price? How is it determined?
3. How is price determined under a monopoly market?
4. Why does the demand curve slope downward? Explain.
5. What is the meaning of revenue deficit? What problems arise due to it?
6. What do you understand by the concept of full employment? Does it refer to a situation of zero unemployment?