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It introduces the unit focus on market systems, resource allocation, and government intervention, explaining core concepts such as economy and economics, the Production Possibility Curve (PPC), and the basic economic questions. 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It contains review/application questions, starting with “Review/Application Questions 1-Introduction,” and continues with topic-based practice such as Demand and Supply.",{"name":120,"@type":111,"acceptedAnswer":121},"Who authored The CPAP Study Guide to VCE Economics, Part 1 (Unit 3)?",{"text":122,"@type":114},"The guide is by Romeo Salla and Toby Robertson, and it also includes an authors’ overview and acknowledgements in the provided text.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},315454,1790047714,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":26,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},962085564807,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","THE CPAP STUDY GUIDE TO VCE ECONOMICS  \nPART 1 Unit 3  \n15th edition 2021  \nRomeo Salla Toby Robertson  \nISBN: 978-1-921813-62-7  \nABOUT THE AUTHORS  \nRomeo Salla completed Honours and Masters degrees in Commerce (Economics major) at the University of Melbourne before moving to Canberra to work as an Economist with the Commonwealth Department of Treasury. After a few years he was promoted within the federal bureaucracy to the position of Senior Economist with the Industry Commission (now Productivity Commission) . Since 1996 he has been employed as a Senior Teacher and Head of Faculty at large private schools in Melbourne, most recently teaching VCE and IB Economics at Geelong Grammar School. Romeo has held positions of responsibility with the Victorian Curriculum and Assessment Authority (VCAA) as an assessor of final examinations and he was Economics editor of the VCTA website (ComNET) between 2001 and 2008. He is also the founder of [the website www.economicstutor.com.au](the website www.economicstutor.com.au), has contributed to various publications, and regularly presents to Economics teachers and students on behalf of the VCTA and CPAP. Romeo is also the co-author of ‘Economic Fundamentals in Australia’, ‘Economics from the ground up’ and‘Monumental Humanities 3’ He has also developed the popular smartphone App (Economics Tutor) containing 1,000+ multiple choice and short answer questions.  \nToby Robertson was born in Switzerland and has lived in England, America, France and Australia. Toby completed a degree in Economics at the Australian National University in 1986. He then worked for CRA (Rio Tinto) in Melbourne as a client advisor to various business units on economics and Foreign Exchange. He moved to State Bank Victoria to work as a Foreign Exchange and Options advisor to large Corporations and was posted to London in 1990 as a Foreign Exchange Trader, speculating in the Foreign Exchange markets. In 1992 he began work with Chase Manhattan Bank in London (one of the largest US banks) as a Vice President and ran their USDYEN Foreign Exchange Desk. In 1995 he moved back to Australia to become Chief Dealer of Chase Sydney. In 1999 he accepted voluntary redundancy and then ran his own proprietary trading business before entering the teaching profession in 2005. He has since contributed to a number of educational publications, presents to teachers across Victoria on behalf of the Victorian Commercial Teachers’Association and has assessed VCE Economics examinations for the VCAA.  \nCOPYRIGHT AND DISCLAIMER  \nPlease note that this publication is protected by copyright laws and no part of the publication can be reproduced without the express permission of the author.  \nThe publication is in no way connected to the VCAA. Readers should be aware that the advice provided throughout the publication is the advice of the author alone, and not the VCAA.  \nACKNOWLEGEMENTS  \nThe publisher and authors would like to thank the Reserve Bank of Australia and the Australian Bureau of Statistics for permission to use their statistics.  \nCOMMERCE PRESENTATIONS AND PUBLICATIONS  \n206/1 Queens Rd  \nMelbourne Vic 3001  \nTEL: (03) 9866 2289  \nFax: (03) 9005 2717  \nEmail: cpap@commpap.com  \nISBN: 978-1-921813-62-7  \nABN: 19 619 387 012  \nThe CPAP Study Guide to VCE Economics, Part 1 (Unit 3), 15th Edition (2021) by Romeo Salla and Toby Robertson 2  \nTABLE OF CONTENTS  \nThe Unit 3 Study Design ..................................................................................................................................................................................................... 5  \nChapter 1 [Unit 3 AOS 1].................................................................................................................................................................................................... 7  \nAn introduction to microeconomics: the market system, resource allocation and government intervention ...................................","cbCaineIzHw1jhod","https://ap.wps.com/l/cbCaineIzHw1jhod","pdf",2846467,"English","# The Unit 3 Study Design\n## Chapter 1 [Unit 3 AOS 1]\n### An introduction to microeconomics: the market system, resource allocation and government intervention\n### What is an economy?\n### What is economics?\n### The Production Possibility Curve (PPC)\n### The basic economic questions\n### The market mechanism and “Perfect Markets”: An introduction to microeconomics and the role of markets\n### The market or price mechanism and relative prices\n## Review/Application Questions 1-Introduction\n## How markets work – the detail\n## What is Demand?\n## What is Supply?","[{\"question\":\"What topics are covered in Unit 3 AOS 1 for microeconomics?\",\"answer\":\"Unit 3 AOS 1 focuses on the market system, resource allocation, and government intervention, including key concepts such as the Production Possibility Curve (PPC) and the market or price mechanism.\"},{\"question\":\"Does the guide include practice questions?\",\"answer\":\"Yes. It contains review/application questions, starting with “Review/Application Questions 1-Introduction,” and continues with topic-based practice such as Demand and Supply.\"},{\"question\":\"Who authored The CPAP Study Guide to VCE Economics, Part 1 (Unit 3)?\",\"answer\":\"The guide is by Romeo Salla and Toby Robertson, and it also includes an authors’ overview and acknowledgements in the provided text.\"}]","THE CPAP STUDY GUIDE TO VCE ECONOMICS - Part 1 - Unit 3 Study Design | PDF",1789904871,151]