JAC 12th Board Economics Sample paper

Jharkhand Academic Council

12th Board Sample Paper

Subject – Economics

1.         What is the difference between following:

a. Factor income and transfer receipts

b. Intermediate goods and final goods

c. Domestic product and national product

2.         Define the expenditure and income method of calculating national income.

3.         Complete the following table:

Level of IncomeMarginal propensity to consumeAverage propensity to consumeConsumption Expenditure

4.         How can be define equilibrium level of income and employment is determined. Shows with the help of diagram

5.         Explain the difference between balance of payments and balance of trade.

6.         What do you mean by aggregate demand? What are its principal components?

7.         Briefly define the functions of money.

8.         What is the difference between ‘Net Domestic Income’ at factor cost and ‘Gross National income’ at market price?

9.         Explain difference between indirect and direct taxes with a suitable example.

10.       What is the three important functions of Central Bank.

11.       What do you mean by Foreign Exchange.

12.       Answer the following question:

a. What is macro – economics

b. Explain Budget

c. Define Barter System

d. What is meant by marginal propensity to consume?

13.       A firm has Rs. 200/- as a fixed cost. Determine total variable cost, average variable cost, total cost and average cost from the data which is given below.

Marginal Cost200150120150200270350
  1. What is the means of ‘Returns to scale’. Explain with a suitable diagram
  2. Design clearly consumer’s equilibrium in case of (a) two commodities with the help of cardinal utility approach (b) single commodity.
  3. Why demand curve facing a firm is perfectly elastic under perfect competition but less than perfectly elastic under monopolistic competition?
  4. Define the change in supply? State three factors that causes a change in supply.
  5. Draw a following table:
Total revenue
Marginal revenue
  1. Draw a diagram and explain price determination under monopoly.
  2. Define the law of diminishing marginal utility by the help of a suitable diagram.
  3. What is price elasticity of demand. Explain the methods of measuring it?
  4. What is the definition of economics in the view of Robbins?
  5. Answer these questions:
    1. Explain micro economics
    2. Who is the father of economics?
    3. Explain marginal utility
    4. Give your views on the point of Monopoly.
  6. Draw a complete table:
Unit of labourTotal ProductAverage ProductMarginal Product

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