VCE Stuff > VCE Economics
Economics Questions Thread
pahm:
--- Quote from: Balfe on March 09, 2020, 08:09:10 pm ---Hey! Firstly, you should define both terms (2 marks) and then provide your explanation (1 mark).
So: “Productive efficiency occurs when an economy is producing the maximum amount possible at that point in time (productivity is maximised). In contrast, allocative efficiency occurs when the allocation of resources is such that living standards and welfare are maximised. Inherently, living standards cannot possibly be maximised if the economy is not producing the maximum amount possible, thus allocative efficiency cannot occur without productive efficiency being achieved.”
Hope this helps!
--- End quote ---
ah I see where I went wrong - thank you so much! ;D
Stormbreaker-X:
Hey guys, I am doing economics this year and so far our class has covered law of supple/demand. What have you guys covered in class so far?
pahm:
--- Quote from: Stormbreaker-X on March 10, 2020, 11:28:32 am ---Hey guys, I am doing economics this year and so far our class has covered law of supple/demand. What have you guys covered in class so far?
--- End quote ---
We already had our first sac too though I think sac 2 will be pushed back.
You?
ashercap:
Hey Guys,
Doing VCE economics 3/4 this year, and was wondering how you answer the "explain" questions? Just coz they're really prominent in all my SACs, and would like some advice.
Also if you have any tips for SAC's coz this is my first 3/4, would love help.
Thank youu :))
Stormbreaker-X:
--- Quote from: ashercap on March 14, 2020, 05:30:16 pm ---Hey Guys,
Doing VCE economics 3/4 this year, and was wondering how you answer the "explain" questions? Just coz they're really prominent in all my SACs, and would like some advice.
Also if you have any tips for SAC's coz this is my first 3/4, would love help.
Thank youu :))
--- End quote ---
Sorry I am doing unit 1/2 this year, but I am pretty sure it means include extra details in your question to make it clear to the reader (I could be wrong tho). When answering those questions, it is best to assume the reader knows nothing and you are trying to explain it to them.
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