JKBose 12th Class Economics 2017 Paper Jammu

By | January 7, 2018

The Jammu and Kashmir State Board of School Education formally known as JKSBSE or JK SBOSE) is the official board of school education in the Indian state of Jammu and Kashmir. It is based in Jammu & Srinagar and is an autonomous education body under the administration of the state government of J&K. The board gives affiliation to more than 10K schools across the state and employs more than 22K teachers.

The board is engaged to determine the courses of direction and make syllabi for them, and to choose reading material for the elementary, and secondary schools and for the higher secondary (school degree) school examinations; to lead open examinations and publish the results at the secondary school and higher secondary levels; to concede diplomas or certficates/endorsements to individuals who have passed its examinations; to perceive instructive foundations at the auxiliary school and higher optional levels, and direct reviews of perceived establishments, guaranteeing that required encourages, hardware, and staff are set up, that exclusive the affirmed books and courses are instructed, and that the measures are as per the significant directions; to expel acknowledgment from schools that don’t meet the correct conditions; to administer and control the perceived organizations; and exercise different forces given to it by law.

JKBose 12th Class Economics 2017 Paper Jammu

 (Long Answer Type Questions)
1. Explain consumers equilibrium, in case of single commodity, with the help of a utility schedule.
    Explain Point Method for measuring Price elasticity of demand.

2. Distinguish between return to scale and return to factor. Explain reasons for increasing return to a factor and increasing returns to scale.


Explain the law of variable proportions through the behavior of both total product and marginal product. Give reasons.

3. Define Market. What are the features of perfect competition?


Give market equilibrium of a good, what are the effects of simultaneous increase in both demand and supply of that good on its equilibrium price and quantity.

4. Explain the circular flow of income with three sector economy.


Define GNP. Explain NNP at market Price and NOP at factor cost.

5. Distinguish between inflationary gap and deflationary gap. Show deflationary gap on a diagram. Can this gap exist at equilibrium level of income?


Explain ‘consumption function’ with the help of a schedule and diagram.

(Short Answers Type Questions)
6. What does a production possibility curve show? When will it shift to the right ?
7. State any three causes of a rightward shift of demand curve of a commodity.
8. State the assumption of law of demand.
9. Distinguish between fixed cost and variable cost. Give two examples of each.
10. What is price elasticity of supply? Draw straight line supply curve with price elasticity of supply equal to:
  1. One
  2. Less than one and
  3. more than one
11. Explain the term ‘compensation of employees’ and its components. Giving reasons, state whether the following are  treated as compensation of employees:
12. Explain the working of investment multiplier with the help of diagram.
13. Clarify the concept of money and high powered money.
14. What is a government budget ? Name two  source each of non-tax revenue receipts and capital receipts.

15. Define accommodation and autonomous item in Balance of payments.

(Very short answer type questions)
16. (i)  Give the meaning of demand .
      (ii) What is the general shape of the AC curve?
      (iii) What is break even price?
      (iv) What are selling cost ?
      (v) What are Transfer payments ?
      (vi) What do you mean by macro-economics?
      (vii) What is bank rate?
      (viii) How can money be defined ?
      (ix) What is mean by fiscal deficit ?
      (x)  What are autonomous items ?
(Objective type Questions)
17. (A) Write True r false :
       (i)   Utility is objective
       (ii)  Giffen goods is that where price effect is positive.
         (i) Total Product (TP) :
              (a) AP/2
              (b) AP/MP
              (c) MP x L

              (d) AP x L

(ii) Break even point is a situation of :

              (a) Profit
              (b) Less
              (c) Super Normal profit

              (d) None of these

(iii) Are micro and macro economics dependent each other?

              (a) NO
              (b) YES
              (c)Both of these

              (d) None of these

(iv) High powered money includes:

              (a) C+DD+OD
              (b) C+R+OD
              (c) C+R+TD

              (d) C+DD+TD

(v) Who has the right of note issue ?

              (a) Centereal Bank
              (b) Commercial Bank
              (c) Government Bank

              (d) Co-operative Bank

(C) Fill in the Blanks :
(i) Surplus budget is that which total expenditure…………… Total recipts.
(ii) …………… Tax implies that the rate of Tax increases with an increase in income.
(iii) Balance of payment is a….. concept.

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