JAC Class 12 economics Question Paper 2019 with Solution

About this paper

This is the Jharkhand Academic Council (JAC) Class 12 Economics paper from the 2019 board examination, reproduced in English with an answer under every question. All 32 questions are compulsory and are split into Group A on microeconomics (Questions 1–16) and Group B on macroeconomics (Questions 17–32). In each group the marks are printed as 1 × 5 for multiple choice, 3 × 5 for Short Answer I, 4 × 3 for Short Answer II and 6 × 3 for long answers, with word limits of 60, 70 and 100 words. One multiple-choice question asks students to identify a demand curve from a figure. Questions 16 and 32 each carry an "Or" alternative. Full marks and time are not printed on this copy.

Exam

JAC Class 12

Subject

Economics

Year

2019

Questions

32

Pages

6

Answers included

Yes

Paper pattern

• Group A

  50 marks

  Microeconomics, Questions 1–16: multiple choice (1 × 5), Short Answer I (3 × 5), Short Answer II (4 × 3) and long answer (6 × 3)

• Group B

  50 marks

  Macroeconomics, Questions 17–32: multiple choice (1 × 5), Short Answer I (3 × 5), Short Answer II (4 × 3) and long answer (6 × 3)

Topics covered

• Utility and opportunity cost
• Theory of demand
• Price elasticity of demand
• Production function and supply
• Cost: AC and MC
• Perfect competition and producer's equilibrium
• National income: GDP and GNP
• Money supply and banking
• Inflationary gap and unemployment
• Government budget and progressive tax
• Balance of payments

Questions from this paper

1. Why does the demand curve slope downward?
2. Distinguish between 'extension of supply' and 'increase in supply'.
3. Explain the producer's equilibrium with the marginal revenue and marginal cost method.
4. Distinguish between Gross Domestic Product and Gross National Product.
5. Explain the concept of inflationary gap with the help of a diagram.
6. What is meant by disequilibrium in the balance of payments? Explain its causes.