VCE Economics Units 3 & 4 Practice Written Examination - Reading time 15 minutes, Writing time 2 hours

Sep 20, 2026

Uploaded by McGucket

VCE Economics Units 3 & 4 Practice Written Examination provides exam structure, permitted and forbidden items, and materials supplied, including a 29-page question and answer book and a multiple-choice answer sheet. It states all written responses must be in English, no calculator is allowed, and outlines wrapping and labeling requirements at the end of the exam. Section A contains multiple-choice questions assessing topics such as perfect competition, market demand and price movements, the circular flow model injections, aggregate demand components, business-cycle recovery effects, and inflation participation indicators, using both scenario questions and tables.

LanguageEnglish

CategoryExam

FormatPDF

Pages38

Reading Time1 h 36 min

AccessFree to download

Section A: Multiple-choice questions

Question 1 - Perfect competition characteristics

Question 2 - Factors affecting the price of rice

Question 3 - Movement along the demand curve for motorcycles

Question 4 - Injections in the circular flow model

Question 5 - Welfare payments impact on aggregate demand components

Question 6 - Least likely event during economic recovery

Question 7 - Annualised inflation rate for March 2017

Question 8 - Participation rate meaning

Question 9 - Inflation trend from CPI data

Question 10 - Balance on capital and financial account

Question 11 - Example of indirect taxation

Question 12 - Budget outcome impact comparison

NAME: ____________________________ VCE ®Economics UNITS 3 & 4 Practice Written Examination Reading time: 15 minutes Writing time: 2 hours Structure of book | Section | Number of questions | Number of questions tobe answered | Number of marks | | --- | --- | --- | --- | | A | 15 | 15 | 15 | | B | 6 | 6 | 65 | | | | | Total 80 | x Students are permitted to bring into the examination room: pens, pencils, highlighters, erasers, sharpeners and rulers. x Students are NOT permitted to bring into the examination room: blank sheets of paper and/or correction fluid/tape. x No calculator is allowed in this examination. Materials supplied x Question and answer book of 29 pages. x Answer sheet for multiple-choice questions. x Additional space is available at the end of the book if you need extra paper to complete an answer. Instructions x Write your name in the space provided above on this page and on the multiple choice answer sheet. x All written responses must be in English. At the end of the examination x Wrap the answer sheet for multiple-choice questions around this book. Students are NOT permitted to bring into the examination room mobile phones and/or anyother unauthorised electronic devices. ©2017 Ser6ECU34EA Published by QATs. Permission for copying in purchasing school only. QATs VCE ®Economics Practice Written Examination Units 3 and 4 Section A: Multiple-choice questions Answer all questions in pencil on the answer sheet provided for multiple-choice questions. Choose the response that is correct or that best answers the question. A correct answer scores 1; an incorrect answer scores 0. Marks will not be deducted for incorrect answers. No marks will be given if more than one answer is completed for any question. Question 1 Which of the following is not a characteristic of a perfectly competitive market? A. Products are only differentiated by price and quality. B. Low start-up costs. C. It is easy for firms to move land, labour and capital between competing uses. D. Consumers have perfect information about the good/service being sold. Question 2 Which of the following factors would not result in a rise in the price of rice? A. A cyclone in China, where much of the world’s rice is produced. B. A rise in the price of quinoa, seen as a substitute for rice in many Western countries. C. A fall in the price of soy sauce, a condiment which many people like to have with their rice. D. The development of new technology which allows rice to be harvested faster. Question 3 Which of the following factors will result in a movement along the demand curve to the right in the market for motorcycles? A. A fall in the price of motorcycle helmets. B. A fall in the cost of leather (used to make the seats of motorcycles) . C. A fall in productivity in motorcycle factories. D. A rise in wage costs paid to motorcycle factory workers. ©2017 Ser6ECU34EA Published by QATs. Permission for copying in purchasing school only. 2 QATs VCE ®Economics Practice Written Examination Units 3 and 4 Question 4 Which of the following is not an injection in the circular flow model of income? A. Consumption B. Investment C. Exports D. Government spending Question 5 Which component/s of Aggregate Demand will be impacted by a government decision to raise the level of welfare payments e.g. the aged pension? A. G1 B. G2 C. Both G1 and G2 D. Neither G 1 nor G2 Question 6 Which of the following is least likely to occur during a recovery (upturn) in the business cycle? A. A fall in the level of unemployment. B. A rise in the number of job advertisements. C. A rise in the rate of inflation. D. A fall in the level of import spending. ©2017 Ser6ECU34EA Published by QATs. Permission for copying in purchasing school only. 3 QATs VCE ®Economics Practice Written Examination Units 3 and 4 Question 7 According to the following information t

FAQs

How long are the reading and writing times for this exam?

The reading time is 15 minutes and the writing time is 2 hours.

What items are students allowed to bring into the examination room?

Students are permitted to bring pens, pencils, highlighters, erasers, sharpeners and rulers.

Is a calculator allowed in this examination?

No calculator is allowed in this examination.

Sep 20, 2026

Uploaded by McGucket