Core Economic
Definitions
Definitions
What is the term for a lack of resources relative to people's needs and wants?
What is Scarcity?
What do you call a person or business that produces a lot of one specific thing?
What is a specialist?
Name one of the three main resources that Pākehā promoted Māori to grow in the early 1800s.
What is wheat, taro, or uwhi (yams)?
Which Bottom Line Framework measures success based on a single goal: making money?
What is the Single Bottom Line?
Name the two Māori-owned dairy businesses that were discussed in the case studies.
What are Miraka and Kawerau Dairy?
Give an example of a human resource used in the production of goods and services.
What is a plumber, doctor, teacher, etc.?
If a person is consistently good at many different skills but not the best at any one thing, they are a...
What is a Generalist?
Māori dominated the farming scene and began supplying New Zealand towns and exporting goods to this country.
What is Australia?
What are the three "P's" in the Triple Bottom Line?
What are Profit, People, and Planet?
This energy source is used by the Kawerau Dairy plant, making it unique and environmentally friendly.
What is geothermal energy?
What is the social science that studies the production, distribution, and consumption of goods and services?
What is Economics?
Which type of player (Specialist or Generalist) would you choose for a critical, high-pressure penalty shot?
What is a Specialist?
What caused significant damage to Māori economic activity and led to the loss of fertile land in the late 1850s?
What are the New Zealand Wars (or competition from steam-driven mills/price falls)?
This Māori value is related to guardianship and protection of the environment, often guiding a business's decision about the "Planet" P.
What is Kaitiakitanga?
The milk smoothie brand from Miraka is branded with a connection to this figure, which represents the land in Māori culture.
What is Papatūānuku?
Goods and services are made so that consumers can buy them or use them to make other things. What is this economic stage called?
What is Production?
What is the economic term for using resources in the best way to get the most benefit, with little waste?
What is Efficiency?
This iwi received a major settlement in 1995 and began building its asset base through investments.
What is Tainui?
Which of the three Bottom Line Frameworks is likely the most common approach for Māori businesses?
What is the Quadruple Bottom Line?
What is the direct benefit that the Kawerau Dairy plant brings to the town of Kawerau by providing jobs and opportunities?
What is a direct benefit to the 'People' or 'community' (social well-being)?
Name two of the five stages in a Linear Economy that happen before "Consumption."
What are Extraction, Production, and/or Distribution?
If your team has lots of injuries and you need a versatile player to cover many positions, you would select this type of player.
What is a Generalist?
In 2022, the Māori economy's assets were valued at this amount, with a projection to reach $100 billion by 2030.
What is $70 billion?
What is the fourth "P" that the Quadruple Bottom Line adds to the Triple Bottom Line, focusing on cultural or spiritual well-being?
What is Purpose?
When a business chooses to look after the environment, even if it reduces profit, this situation is an example of what two goals being in conflict?
What are Profit and Planet (or Kaitiakitanga)?