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.
Matching results: 404 indexed questions and parts.
Section A, Question 7
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Estimated difficulty · Easy
Question 7 Consider the following hypothetical Consumer Price Index (CPI) data. Year CPI 1 100 2 110 3 121 The increase in the annual rate of inflation from Year 2 to Year 3 is A.
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Estimated difficulty · Easy
Question 8 According to the five-sector circular flow model of the economy, a rise in the total value of injections relative to the total value of leakages is most likely to result
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Estimated difficulty · Easy
Question 9 The following information refers to a hypothetical country’s terms of trade. Year Import price index Export price index 1 100 100 2 104 117 The change in the terms of tr
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Estimated difficulty · Easy
Question 10 The quantity demanded for a product increases by a higher percentage than the decrease in the price of that product. What is this known as? A. demand elasticity B. dema
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Estimated difficulty · Easy
Question 11 What name is given to the type of efficiency where resources are reallocated to increase choice and meet the changing tastes and needs of consumers? A. dynamic efficien
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Estimated difficulty · Easy
Question 12 Consider the following data relating to a hypothetical country’s balance of payments for 2016–2017. Item $ billion (b) net goods +110 net services –50 net primary incom
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Estimated difficulty · Easy
Question 13 As the level of aggregate demand slows, the budget outcome will A. improve as unemployment increases. B. deteriorate as unemployment increases. C. improve as social sec
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Estimated difficulty · Easy
Question 14 When the Reserve Bank of Australia buys government securities on the overnight market, the effect will be to A. increase the supply of cash in the money market and incr
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Estimated difficulty · Easy
Question 15 Which one of the following is an example of government capital expenditure? A. personal income tax refunds B. payment of unemployment benefits C. provision of transport
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Report-based difficulty · EasyAverage marks: 75% of available · official reportFull marks: 56% of students · official report
a. Explain one effect of competitive markets on the efficiency of resource allocation. 2 marks
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 48% of students · official report
b. Distinguish between public goods and common access resources. 3 marks Instructions for Section B Answer all questions in the spaces provided. 7 2017 ECONOMICS EXAM TURN OVER
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 36% of students · official report
c. Identify a recent example of government intervention in markets and explain how it unintentionally led to a decrease in the efficiency of resource allocation. 3 marks 2017 ECONO
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