VCE Economics Past Exam Questions
Browse VCE Economics exam questions from 2015–2025, including VCE papers. Filter by topic, year and paper; open the original source.
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Section B, Question 1(c)Question part (c)
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Report-based difficulty · EasyAverage marks: 75% of available · official reportFull marks: 39% of students · official report
c. Describe the difference between a movement along the supply curve and a shift of the supply curve. Construct fully labelled demand and supply curves to illustrate your descripti
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Report-based difficulty · MediumAverage marks: 66.7% of available · official reportFull marks: 35% of students · official report
d. Explain how either externalities or asymmetric information would result in market failure. 3 marks
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Report-based difficulty · MediumAverage marks: 63.3% of available · official reportFull marks: 30% of students · official report
e. Explain one government action that might be taken to address the market failure explained in part d. 3 marks 2018 ECONOMICS EXAM 10
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2018 Economics exam · Report: 2018 Economics exam reportSection B, Question 2(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 50% of available · official reportFull marks: 16% of students · official report
a. During 2017 and 2018 Australia’s annual wages growth remained weak. Describe how wages growth remaining at low levels might have influenced the stance and focus of monetary poli
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Report-based difficulty · MediumAverage marks: 56.3% of available · official reportFull marks: 14% of students · official report
b. Monetary policy influences aggregate demand and the wider economy via transmission mechanisms. Imagine the Reserve Bank of Australia raised the cash rate from 1.50% to 2.00%. Ex
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2018 Economics exam · Report: 2018 Economics exam reportSection B, Question 2(c)Question part (c)
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Report-based difficulty · MediumAverage marks: 63.3% of available · official reportFull marks: 36% of students · official report
c. Outline one weakness associated with using monetary policy to increase aggregate demand and the rate of economic growth. 3 marks 13 2018 ECONOMICS EXAM TURN OVER
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2018 Economics exam · Report: 2018 Economics exam reportSection B, Question 3
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Estimated difficulty · Medium
Question 3 (14 marks) % 0 –3 –6 –9 3 3 2007 2011 2015 year 2018 current account balance trade balance Australia Current account balance per cent of nominal GDP Source: adapted from
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Report-based difficulty · MediumAverage marks: 50% of available · official reportFull marks: 23% of students · official report
a. Referring to the graph above, outline one factor that might explain the trend in Australia’s current account balance during 2017 and 2018. 3 marks 2018 ECONOMICS EXAM 14
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Report-based difficulty · MediumAverage marks: 67.5% of available · official reportFull marks: 34% of students · official report
b. Discuss one likely effect of trade liberalisation on Australia’s international competitiveness and living standards. 4 marks
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Report-based difficulty · MediumAverage marks: 52.5% of available · official reportFull marks: 7% of students · official report
c. Explain one likely effect of decreasing the annual immigration intake from 200 000 to 100 000 on the labour market and aggregate supply. 4 marks 15 2018 ECONOMICS EXAM TURN OVER
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2018 Economics exam · Report: 2018 Economics exam reportSection B, Question 3(d)Question part (d)
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Report-based difficulty · MediumAverage marks: 56.7% of available · official reportFull marks: 26% of students · official report
d. Outline one strength of using immigration policy to achieve the goal of strong and sustainable economic growth. 3 marks 2018 ECONOMICS EXAM 16
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2018 Economics exam · Report: 2018 Economics exam reportSection B, Question 4
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Estimated difficulty · Medium
Question 4 (20 marks) % 8 6 4 2 10 10 2010 2011 2012 2013 2014 year 2015 2016 2017 underemployment rate unemployment rate Australia Labour market 2018 Source: adapted from ABS; RBA
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