Economics

• dairy prouducts 
• meat
• timber
• crude oil

• pertol
• mechanical equpiment
• vehicles
• electrical equiment

• austrailia
• china
• USA 
• japan

• China
• Australia
• USA
• Japan

who ever has the abilty to produce at the lowest unit cost efficentcy

who can proudes at the lowest opportunity cost

are goods and services sold overseas users out side of new zealand

sold to overseas people but consumed in nz

sacrifice deived by gain

exported goods - imported goods

exported serives - imported services

income from investments aboard - investments from foreign invesments

inflows of current transfers - out flow of current transfers

• balance of goods 
• + balance of services 
• + Balance on investment income
• + balance on transfers

because we depend on critical imports such as oil to keep the econmoy working at its current standard

• less money
• will need less workers or fewer hours for workers
• may switch production
• reduced investment

• more income
• more workers or more hours for workers
• may stop prduceing less profitable goods
• increased investment

• have to pay more 
• standard of the g+s lower as best gets exported

get to pay less

• less tax paid because less profit
• less income tax
• more U/E = more benifts
• less govt spending
• less indirect tax = no one spending

• more tax paid more profits
• more income tax
• less U/E = less welfare benfits
• more govt spending
• more indriect tax because more spending

less goods revived as imports prices will rise

• more goods revived as imports 
• prices will fall

• Nz dollar falls
• fewer goods exported
• less demand for nz dollar

• NZ dollar rise
• more goods exported
• more demand for NZ dollar

less goods exported there fore exports decrease so net exports will decrease ( exports - imports = net exports)

more goods exported there fore exports increase so net exports will increase ( exports - imports = net exports)

• NZ producers of imported goods
• employees at those products
• the Govt. as it receives revenue from from the tariff e.g. more income tax less beifits

• exporters who have to face higher tariffs from trading partner in relation for tariffs on imported goods into NZ
• employees in the export industries
• consumers as the price goes up my the amount of the tariff

• NZ consumer cheaper and more wider range in imported goods
• employees in that industries may lose there job
•  some firms may shut down
• other exporting firms  may benefit as cheaper to produce, less competition
• Govt. will lose from revenue from tariff

• imports increase
• NZ travel over seas
• interest rates overseas increase
• the NZ economy seems to be weakling relative to overseas economies
• deprecation in the exchange rate

• cost of production
• taxes
• subsidies
• price of related goods
• import taxes/ trariffs
• GST

• exports increase
• overseas people travel to NZ
• NZ economy seems to be strenthing retaliative to overseas economies
• an increase in demand would cause a appreciation of the exchange rate

COPTSPORGITGST