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(b)Question part (b)
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 32% of students · official report
b. Describe how an increase in aggregate supply might contribute to an increase in the rate of economic growth. 2 marks
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Report-based difficulty · MediumAverage marks: 67.5% of available · official reportFull marks: 40% of students · official report
c. Explain how one domestic demand-side factor and one global demand-side factor might have infl uenced aggregate demand in Australia in 2015. 4 marks Domestic demand-side factor G
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Report-based difficulty · MediumAverage marks: 63.3% of available · official reportFull marks: 15% of students · official report
d. Explain how any two of the following government policies have been implemented over the past four years, or could be implemented, to increase aggregate supply in Australia: • mi
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Report-based difficulty · MediumAverage marks: 57.5% of available · official reportFull marks: 22% of students · official report
e. Explain how one feature of the relationship between monetary policy and budgetary policy in Australia in 2015 might have influenced aggregate demand and living standards. 4 mark
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Report-based difficulty · EasyAverage marks: 77.5% of available · official reportFull marks: 47% of students · official report
a. Explain two differences between a perfectly competitive market structure and an oligopolistic market structure. 4 marks Difference 1 Difference 2 11 2015 ECONOMICS EXAM TURN OVE
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Report-based difficulty · EasyAverage marks: 77.5% of available · official reportFull marks: 46% of students · official report
b. Explain the likely impact of a monopoly market structure on both prices and living standards. 4 marks Prices Living standards 2015 ECONOMICS EXAM 12
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 19% of students · official report
c. Describe one example of a government action aimed at reducing market failure and improving the efficiency of the allocation of resources. 4 marks 13 2015 ECONOMICS EXAM TURN OVE
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Estimated difficulty · Easy
d. i. Explain the movement in the global equilibrium market price per barrel for crude oil as shown in the demand and supply graph above. 2 marks 15 2015 ECONOMICS EXAM TURN OVER 2
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Estimated difficulty · Easy
ii. Outline the significance of the price elasticity of demand for petrol upon household budgets, given the trend movement in petrol prices, as indicated in the extract on page 14.
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Estimated difficulty · Easy
iii. Describe one reason why the Australian Government intervenes in the market for petrol paid by consumers and provide one example of how it intervenes. 2 marks
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Estimated difficulty · Medium
Question 3 (8 marks) On 3 February 2015, the Governor of the Reserve Bank of Australia (RBA) announced a change in monetary policy: ‘… the Board decided to lower the cash rate by 2
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Report-based difficulty · EasyAverage marks: 75% of available · official reportFull marks: 64% of students · official report
a. Outline one economic factor that might explain why the RBA decided to lower the cash rate in February 2015. 2 marks 17 2015 ECONOMICS EXAM TURN OVER
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2015 Economics exam · Report: 2015 Economics exam reportHow to use ClassConnect past exam questions
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