Economics Model Question Paper www.jac.nic.in : Jharkhand Plus Two / 12th Std / +2

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Document Described : Economics Question Paper, Jharkhand Question Paper

ECONOMICS
(Optional)
Full Marks – 100
Time – 3 Hours
Candidates are required to give their answers in their own words as far as practicable.
Figures in the margin indicate full marks.

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General Instructions :
(i) All questions in both Groups are compulsory.
(ii) Question Nos. 1 and 13 are very short-answer type questions carrying 1 mark. They are required to be answered in one sentence each.
(iii) Question Nos. 2 to 5 and 14 to 17 are shortanswer type questions carrying 3 marks each. Answer to them should normally not exceed 60 words each.
(iv) Question Nos. 6 to 9 and 18 to 21 are also short-answer type questions carrying 4 marks each. Answers to them should normally not exceed 70 words each.
(v) Question Nos. 10 to 12 and 22 to 24 are long-answer type questions carrying 6 marks each. Answers to them should normally not exceed 100 words each.
(vi) All parts of one question should be written in one place.

Group – A :
1. (a) What is price-elasticity of demand ? 1
(b) Define ‘market demand’. 1
(c) Distinguish between short-run and longrun.
(d) What is meant by supply function ? 1
2. Is economics a Positive Science or a Normative Science ? Support your answer with example. 3
3. Explain the law of demand with the help of
a suitable diagram and demand schedule.
4. What is the degree of elasticity of demand in case of following demand curves ? 3
(i) Straight line parallel to OX-axis
(ii) Straight line parallel to OY-axis
(iii) At mid-point downward sloping straight line curve.
5. With the help of a diagram, describe pricedetermination under perfect competition. 3
6. Explain the methods of measuring elasticity of supply. 4
7. ‘‘Economics is the logic of choice.’’ Explain.
8. Complete the following table: 4
Output Total Average Marginal
Cost Cost Cost
1 20 – –
2 32 – –
3 45 – –
4 60 – –
5 80 – –
9. State three features of monopolistic competition. Describe any one of these. 4
10. Explain the laws of variable proportions with the help of suitable diagram. 6
11. Information about a firm is given : Output 0 1 2 3 4 5 6 7
Total Cost 150 300 420 600 790 1000 1260 1500
Find (i) Total fixed cost, (ii) Total variable cost,
(iii) Average fixed cost, (iv) Average cost,
(v) Marginal cost. 6
12. What do you mean by price elasticity of demand ? What are the methods of measuring it ? 6

Group – B :
13. (a) What is meant by Circular Flow of National Income ? 1
(b) Define ‘Gross Domestic Product’. 1
(c) Define ‘Tax’. 1
(d) What is macro-economics ? 1
14. Define ‘money’. 3
15. Differentiate between Balance of Payment and Balance of Trade. 3

ECONOMICS
(Optional)
Full Marks : 100
Pass Marks : 33
Time : 3 Hours

Group : A
1. Answer the folowing questions : 1×4=4
(a) Who is the father of Economics ?
(b) What do you mean by Micro-economics ?
(c) Define marginal utility.
(d) What do you mean by Monopoly ?
2. Give the definition of economics as given by Robbins. 3
3. Define price elasticity of demand. What are the methods of measuring it ? 3
4. Explain the law of diminishing marginal utility, giving suitable diagram. 3
5. Complete the folowing table : 3
Unit of Total Average Marginal
Labour Product Product Product
0 0 ? ?
1 15 ? ?
2 35 ? ?
3 60 ? ?
4 75 ? ?
5 80 ? ?
6 80 ? ?
7 75 ? ?
0 0 ? ?
1 15 ? ?
2 35 ? ?
3 60 ? ?
4 75 ? ?
5 80 ? ?
6 80 ? ?
7 75 ? ?
6. With the help of a diagram, describe price- determination under monopoly. 4
7. Complete the folowing table : 4
Output 1 2 3 4 5
Price 7 6 4 2 1
Total revenue
Marginal revenue
8. Why demand curve facing a firm is perfectly elastic under perfect competition but less than perfectly elastic under monopolistic competi- tion ? 4
9. Explain the laws of ?returns to scale? with the help of suitable diagrams.
10. What is meant by change in supply ? State three factors that cause a change in supply.