JAC Class 12 economics Question Paper 2016 with Solution

About this paper

This is the Jharkhand Academic Council (JAC) Class 12 Economics paper from the 2016 board examination, reproduced in English with an answer under every question. All 32 questions are compulsory, 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 Short Answer I questions, three four-mark Short Answer II questions and three six-mark long answers, with word limits of 60, 70 and 100 words. The last long answer in each group has an "Or" alternative, on the bases for classifying markets and on the Keynesian theory of employment. Full marks and time are not printed on this copy.

Exam

JAC Class 12

Subject

Economics

Year

2016

Questions

32

Pages

4

Answers included

Yes

Paper pattern

• Group A

  50 marks

  Microeconomics, Questions 1–16: five 1-mark multiple-choice questions, five 3-mark Short Answer I, three 4-mark Short Answer II and three 6-mark long answer questions

• Group B

  50 marks

  Macroeconomics, Questions 17–32: five 1-mark multiple-choice questions, five 3-mark Short Answer I, three 4-mark Short Answer II and three 6-mark long answer questions

Topics covered

• Introduction to microeconomics and macroeconomics
• Economic goods and free goods
• Theory of demand and price elasticity of demand
• Production function and average product
• Cost: marginal and average cost
• Law of supply
• Perfect competition, monopoly and monopolistic competition
• National income and its measurement
• Money supply and commercial banks
• Central bank and credit control
• Consumption, saving and inflationary gap
• Government budget and exchange rate

Questions from this paper

1. Distinguish between economic goods and free goods with suitable examples.
2. Define marginal cost. Explain its relation with average cost.
3. Explain any five factors determining the price elasticity of demand.
4. Explain marginal propensity to save with the help of a schedule.
5. Mention the various methods of credit control used by the central bank.
6. What do you mean by exchange rate? How is it determined?