Analyse international trade using economic concepts and models
This standard asks you to use economics models and concepts to explain how and why international trade changes, and then describe what those changes mean for different groups of New Zealanders. You'll use supply-and-demand models and exchange rate models to show your understanding of real trade issues like export prices, import values, and the NZ dollar.
You correctly complete the economic models, describe the impact of trade changes on consumers or producers (like lower prices helping shoppers or higher exports helping farmers), and identify New Zealand's trading patterns.
You correctly complete all the models with accurate labels, refer back to what the graphs show when explaining impacts, calculate values from the graphs (like export receipts), and explain how trade changes affect different groups differently—such as how a weaker NZ dollar helps exporters but hurts overseas tourists.
You complete all models perfectly and integrate what the graphs show into detailed explanations, then compare and contrast how the same trade change affects different groups in opposite ways—for example, explaining that higher kiwifruit exports help growers but might affect workers differently, or that a dollar depreciation helps importers but hurts tourists.
Standards typically taken alongside or after this one. Same subject, grouped by level.