0
The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the United States of America, China and Japan. It is strongly dependant on tourism and agricultural exports, and has only small manufacturing and high-tech components
Wiki User
∙ 14y ago
Wiki User
∙ 11y agoNew Zealand has a "market economy" by default. Before Europeans, Maori traded Pounamu (green stone), food and textiles through barter which is a form of market economics. Similarly the first Europeans in New Zealand (mainly sealers and whalers, but later missionaries) traded with Maori using barter.
Following colonisation in the 1840s, money (notes and coins) became the means of exchange in place of barter. From that New Zealand's market economy developed.
There were some moves towards a "planned" economy along more socialist lines from the 1930s (led by the first Labour government) but most of these institutions were dismantled in the 1980s due to their gross inefficiency and ideological reasons. Since 1984 governments in New Zealand have upheld free-market economics as orthodoxy.
Prof Swapan Garain P...
Yes. A small well managed country, with a strong economy.
Add your answer:
Earn +20 pts
Is New Zealand a part of the Commonwealth market?
New Zealand is a member of the Commonwealth.
The economy of New Zealand relies primarily on what?
New Zealand's economy has received recent boosts from good weather combined with high prices for their exports. Good weather has also helped crops, which gave a boost to the economy.
What is the resource that makes one of the greatest contribution to new Zealand's economy?
dariy farming
What are good essay questions about new zealand?
Assess the impact of natural disasters on New Zealand's economy and society. Assess the impact of industrialisation and white settlement on the Maori community.
Is the South African economy classified as a command or market economy?
yes, South Africa is a Pure market economy
Why has New Zealands economy strained?
As the world market prices declined so did the value of exports from New Zealand
Is New Zealand a traditional economy?
NO. New Zealand is a modern capitalist economy.
What is the mixed econmomy in Russia?
This was suggested and started by Stalin. And it is still continuing. And today's countries like Austraila, New zealand and candada have mixed economy. Mixed economy is when market economy + planned economy.
Is New Zealand a part of the Commonwealth market?
New Zealand is a member of the Commonwealth.
Is New Zealands economy mainly industrial?
No. New Zealand's economy is mainly agricultural.
The economy of New Zealand relies primarily on what?
New Zealand's economy has received recent boosts from good weather combined with high prices for their exports. Good weather has also helped crops, which gave a boost to the economy.
What is the nature of the economy of New Zealand?
New Zealand is a small group of islands to the east of Australia. It has a mixed economy. Traditionally New Zealand could be describes as an economy based on farm products. This nation has expanded from that to host more industry to better compete on a global basis. Exports of New Zealand include dairy products, machinery and wood products. It also export meat products.
Would you expect new and better machinery and equipment to be adopted more rapidly in a market economy or in a centrally planned economy?
Market economy
What are some of New Zealands biggest production sales?
While New Zealand is moving more and more toward a balanced economy, it still relies on agriculture for most of its export market. Dairy products, meat, wood and wool still lead in its export economy.
What is the NZX50?
The NZ50 is the main stock market index in the country of New Zealand. The stock NZ50 comprises the fifty biggest stocks by free float market capitalisation trading on the New Zealand Stock Market.
How have changes in world trade patterns affected new zealand economy?
The creation of the EU has forced New Zealand to search out new markets for their products. New Zealand has turned increasingly to Asia and the United States for trade...
What are the dysfunctional aspects of the new economy?
job market
