Which of the following statements best describes a key difference between the economic activities of Australia and New Zealand?

• A. Australia and New Zealand have identical economic structures with no significant differences in their main industries.
• B. Both Australia and New Zealand have economies dominated by manufacturing industries.
• C. New Zealand's economy is primarily based on oil exports, whereas Australia focuses on tourism.
• D. Australia's economy relies heavily on mining and resource extraction, while New Zealand's economy is more dependent on agriculture and dairy production.

Answer: (D)

Verified step by step guidance

1. Step 1: Understand the economic structures of both Australia and New Zealand by identifying their main industries and sources of economic activity.
2. Step 2: Recognize that Australia's economy is heavily reliant on mining and resource extraction, which includes industries such as coal, iron ore, and natural gas.
3. Step 3: Note that New Zealand's economy is more dependent on agriculture, particularly dairy production, as well as other farming activities.
4. Step 4: Compare the given statements to these economic characteristics to determine which one accurately reflects the key difference between the two countries' economies.
5. Step 5: Conclude that the statement highlighting Australia's reliance on mining and resource extraction versus New Zealand's focus on agriculture and dairy production best describes the key economic difference.