In this internal, you will analyse a market failure for a particular good or service. You will do research on why the market has failed and come up with government policies to correct the market failure. You will then justify which policy you believe is the best to correct the market failure.
To complete this Internal, you need to:
1) Watch the LearnCoach videos and choose your topic
2) Analyse the market failure and write the report
3) Submit your report to earn the credits.
This assessment is based on on the NZQA 91402 achievement standard (version 3) document.
Before taking Economics 3.4, LearnCoach recommends you should have passed some Level 2 economics or accounting internals or externals. If you have not done this, some of the concepts in the internal may be unfamiliar to you and you may find it a challenge.
If you've sat a similar standard in the past that has now expired, you cannot get the same credits a second time. Check the 'Exclusions List' to see recently updated standards.