Describe three challenges to New Zealand's economic success. What issues might New Zealand face as a smaller island nation?

Answer:

Three challenges to New Zealand's economic success are its distance from major world markets, its small population and domestic market, and its reliance on exports such as agricultural products that can be affected by changing prices and demand. As a smaller island nation, New Zealand can also face high shipping costs, limited resources and labor, and vulnerability to natural disasters and climate change. Its small size can make it harder to compete with larger economies.