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7 Cards in this Set
- Front
- Back
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Trade |
An economic concept that involves multiple parties participating in the exchange of one's goods and services for desired goods and services that someone else possesses. The money is the exchange that allows trade to be conducted in a manner that is much simpler.
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Top 5 export goods of NZ |
1) Tourism 2) Dairy 3) Meat 4) Wood 5) Transportation |
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Top 5 import goods of NZ |
1) Travel 2) Commercial Services 3) Transportation 4) Petrol 5) Mechanical machinery |
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Top 5 exports markets |
1) China 2) Australia 3) 4) United States 5) Japan |
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Top 5 import markets |
1) 2) Australia 3) China 4) USA 5) Singapore |
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Factor endowments |
Amount of labour, land, money and entrepreneurship that could be exploited for manufacturing within a country. Countries with large factor endowments are often financially better off than countries with less factor endowment.
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Current account |
The amount of money coming in and out of New Zealand. |
