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(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 38% of students · official report
a. Refer to the graph of the terms of trade. Outline one factor that might explain the trend in Australia’s terms of trade over the past two years. 2 marks Instructions for Section
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Report-based difficulty · MediumAverage marks: 57.5% of available · official reportFull marks: 24% of students · official report
b. Analyse how an unfavourable movement in the terms of trade is likely to affect Australia’s 4 marks • balance of payments on current account • living standards. 2016 ECONOMICS EX
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 61% of students · official report
c. Describe how a depreciation of the Australian dollar might affect the rate of inflation in Australia. 2 marks
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Report-based difficulty · MediumAverage marks: 66.7% of available · official reportFull marks: 40% of students · official report
d. Using one example, explain how a microeconomic reform policy might be used to improve Australia’s international competitiveness and external stability. 3 marks 9 2016 ECONOMICS
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Report-based difficulty · MediumAverage marks: 63.3% of available · official reportFull marks: 40% of students · official report
e. Using one example, explain how budgetary policy might be used to influence Australia’s international competitiveness and external stability. 3 marks 2016 ECONOMICS EXAM 10
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2016 Economics exam · Report: 2016 Economics exam reportSection B, Question 2(a)Question part (a)
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Report-based difficulty · EasyAverage marks: 80% of available · official reportFull marks: 62% of students · official report
a. Outline two characteristics of a perfectly competitive market. 2 marks 11 2016 ECONOMICS EXAM TURN OVER
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Report-based difficulty · MediumAverage marks: 62.5% of available · official reportFull marks: 19% of students · official report
b. Explain why a perfectly competitive market is more likely to achieve an efficient allocation of resources than an oligopolistic market. 4 marks 2016 ECONOMICS EXAM 12
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Report-based difficulty · DifficultAverage marks: 30% of available · official reportFull marks: 23% of students · official report
c. Outline one reason for government intervention in the market in order to stabilise the level of economic activity. 2 marks 13 2016 ECONOMICS EXAM TURN OVER
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Report-based difficulty · MediumAverage marks: 48.3% of available · official reportFull marks: 6% of students · official report
d. Referring to a specific example of a market in Australia (such as an agricultural market, a commodity market, a retail market), describe one economic factor influencing the oper
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Estimated difficulty · Medium
Question 3 (20 marks) Over the past two years, the Australian Government has been involved in discussions about how to reform Australia’s taxation system.
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 40% of students · official report
a. Outline one reason why the Australian Government believes Australia’s taxation system needs to be reformed. 2 marks 15 2016 ECONOMICS EXAM TURN OVER
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Report-based difficulty · MediumAverage marks: 58.3% of available · official reportFull marks: 14% of students · official report
b. Explain how a change in both personal income tax policy and company tax policy might influence aggregate supply and therefore the rate of economic growth. 6 marks 2016 ECONOMICS
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