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Changes to Economic standard 91402 clarifies content and evidence requirements.

The Ministry of Education has made changes to Standard 91402: Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes to add clarity to the content assessed and the evidence requirements.

The title of the standard previously referred to ‘market failure’ which generally means the failure of a market to allocate efficiently.  The title was changed to explicitly include equity as well as efficiency. 

Explanatory note 2 was also changed to clarify the evidence requirements to prevent unnecessary duplication of student evidence.

The updated achievement standard is now available on  NZQA’s website, and new assessment resources are available on  NCEA TKI.