New Zealand Economy and Environment Quiz
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Questions and Answers

What is deforestation?

The removal of trees faster than forests can replace themselves.

What is the goal of the Predator Free 2050 initiative?

To eradicate predators in New Zealand by 2050.

Why would it be easier to focus on islands and peninsulas for predator eradication?

  • Because they're closer to mainland populations
  • Because they're easier to access
  • Because they have a higher concentration of predators
  • Because they're isolated from other predators (correct)

What year was the peak of deforestation in the kauri industry?

<p>1905</p> Signup and view all the answers

What was the primary driver of New Zealand's economy in the 1960s?

<p>Wool</p> Signup and view all the answers

In 2018, what percentage of New Zealand's wealth was owned by the top 1% of the population?

<p>22%</p> Signup and view all the answers

What percentage of New Zealand's wealth was owned by the poorest 50% of the population in 2018?

<p>2%</p> Signup and view all the answers

What action did Julius Vogel take to modernize New Zealand?

<p>He borrowed money from London.</p> Signup and view all the answers

What is a recession?

<p>When the economy shrinks for 6 consecutive months.</p> Signup and view all the answers

Describe the key characteristics of New Zealand in the 1960s.

<p>A period with one of the highest standards of living in the world with near-full employment and low inflation. Politically, we were the picture of stability; National Party leader Keith Holyoake was about halfway through his 12-year run as Prime Minister. Kiwi Keith as he was known was a conservative politician whose catchphrase was 'steady does it'. People were happy and employed and the economy was booming so there was no need for any political change</p> Signup and view all the answers

What impact did the Advances to Settlers Act have on the wealth gap between Maori and Pakeha in New Zealand?

<p>It gave Pakeha bank loans at low interest rates to buy and develop land. This is one of the reasons responsible for the division gap of wealth between Maori and Pakeha.</p> Signup and view all the answers

What are the main causes of global inequality?

<p>The unequal distribution of wealth and resources. The richest 1% of the world's population own more than half of the world's wealth, while the poorest half of the world's population own less than 1% of the world's wealth. This disparity is even greater, when looking at global income inequality, with the richest 1% of the world's population earning more than the poorest 50% combined.</p> Signup and view all the answers

What is a commodity?

<p>Raw materials that are valuable and used to make consumer products.</p> Signup and view all the answers

What is debt?

<p>Something of value (like money) one party owes to another.</p> Signup and view all the answers

What are developed countries?

<p>Countries with strong economies and a high quality of life.</p> Signup and view all the answers

What are the different types of economic systems?

<p>Traditional, Command, Market, Mixed (D)</p> Signup and view all the answers

What does disadvantaged mean?

<p>Lacking the advantages or opportunities of others.</p> Signup and view all the answers

What does disparity mean?

<p>A great difference, especially between different groups or in the amount or status of something.</p> Signup and view all the answers

What is distribution?

<p>The action of sharing something out among a number of recipients.</p> Signup and view all the answers

What is economic growth?

<p>Increase in the production of goods and services in an economy over a period of time.</p> Signup and view all the answers

What is the economic left-wing view?

<p>A view where it is believed that all should be equal. For example: What you earn and your standards of living should be equal to those around you and the wealth gap shouldn't be as big, etc.</p> Signup and view all the answers

What is an economy?

<p>A system for producing and distributing goods and services to fulfill people's wants.</p> Signup and view all the answers

What is equality?

<p>The state of being equal, especially in status, rights, and opportunities or in this case, everyone is treated the same no matter what.</p> Signup and view all the answers

What are exports?

<p>Products made domestically and sold abroad.</p> Signup and view all the answers

What does GDP stand for and what does it measure?

<p>Gross Domestic Product - the total market value of all final goods and services produced within a country in a given period.</p> Signup and view all the answers

Flashcards

Deforestation

The removal of trees faster than forests can replace themselves.

Predator Free 2050

Initiative to eradicate predators in New Zealand by 2050.

Isolation for Predator Control

Focus on islands/peninsulas to control predators due to isolation.

Kauri Deforestation Peak

The year 1905 saw the highest rate of kauri deforestation.

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1960s NZ Economy

High living standards, low inflation, full employment, and political stability.

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Top 1% NZ Wealth (2018)

22% of NZ's wealth in 2018 was owned by the top 1%.

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Poorest 50% NZ Wealth (2018)

Only 2% of NZ's wealth belonged to the poorest 50% in 2018.

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Vogel's NZ Modernization

Julius Vogel used borrowed money from London to modernize New Zealand.

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Recession

Six consecutive months of economic shrinkage.

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Advances to Settlers Act

Provided low-interest loans to Pakeha to buy and develop land.

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Global Inequality Causes

Unequal distribution of resources and wealth.

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Commodity

Raw materials with value used to make products.

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Debt

Something of value owed by one party to another.

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Depression

Long-term recession.

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Developed Countries

Countries with strong economies and high quality of life.

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Developing Countries

Countries with less productive economies and lower quality of life.

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Economic Systems (Types)

Traditional, command, market, and mixed.

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Disadvantaged

Lacking advantages and opportunities.

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Disparity

A large difference between groups.

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Distribution

Sharing something among recipients.

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Economic Growth

Increase in goods and services over time.

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Economic Left-wing

Belief in equality of outcome.

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Economic Right-wing

Less reliance on government intervention.

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Economy

System for producing and distributing goods.

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Equality

Being treated the same.

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Equity

Fair and equal treatment according to needs.

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Exports

Domestic products sold abroad.

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Study Notes

Deforestation

  • Removal of trees faster than forests can regrow.

Predator Free 2050

  • Initiative to eradicate predators in New Zealand by 2050.
  • Focus on islands and peninsulas to target eradication due to isolation.

Kauri Deforestation Peak Year

  • 1905

1960s NZ Economy

  • Main economic driver was wool.
  • High living standards, low inflation, and full employment.
  • Politically stable with a conservative Prime Minister, Keith Holyoake.

New Zealand Wealth Distribution (2018)

  • Top 1% owned approximately 22% of the nation's wealth.
  • Poorest 50% owned approximately 2% of the nation's wealth.

Vogel's Modernisation

  • Borrowed money from London to modernise New Zealand.

Recession

  • Six consecutive months of economic shrinkage.

Advances to Settlers Act

  • Provided low-interest loans to Pakeha settlers for land development.
  • Contributed to wealth disparity between Māori and Pakeha.

Global Inequality Causes

  • Unequal distribution of wealth and resources.
  • Richest 1% own more than half the world's wealth.
  • Poorest 50% own less than 1% of the world's wealth.
  • Significant disparity in global incomes.

Commodity

  • Raw materials with value used to make consumer products.

Debt

  • Something of value owed by one party to another.

Depression

  • Extended period of recession.
  • Lowered GDP, increased unemployment, etc.

Developed Countries

  • Strong, productive economies with high living standards.

Developing Countries

  • Economies with lower levels of production and living standards than developed countries.

Economic Systems

  • Traditional, command, market, and mixed.

Disadvantaged

  • Lacking advantages and opportunities compared to others.

Disparity

  • Large difference in something, often in status, rights, etc., between groups.

Distribution

  • The act of sharing something out among recipients.

Economic Growth

  • Increase in the production of goods and services over a period of time.

Economic Left-Wing

  • Belief in equality through policies such as equal earnings and living standards.

Economic Right-Wing

  • Belief in minimal government intervention in equalizing wealth and resources.

Economy

  • System of producing and distributing goods and services to meet needs and wants.

Equality

  • State of being equal in status, rights, and opportunities.

Equity

  • Fairness and equal treatment according to needs.

Exports

  • Domestically produced goods and services sold abroad.

GDP

  • Gross Domestic Product—total market value of all finished goods and services produced within a country's borders in a specific time period.

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Description

Test your knowledge on New Zealand's environmental issues and economic history. This quiz covers various topics including deforestation, wealth distribution, and historic economic drivers. Dive into the complex relationship between ecological initiatives and economic developments in New Zealand.

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