13. The economy of the usa

1. What type of economy does the USA have?

The United States has mixed economy that has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment.

2. What is the role of the government in the US economy? What does it provide?

The federal government does play an important part in the national economy. It provides services and goods that the market cannot provide effectively, such as national defense, public goods and services, assistance programs for low-income families, and interstate highways and airports. The government also provides incentives to encourage the production and consumption of certain types of products, and discourage the production and consumption of others, establishes guidelines regulating environmental protection.

3. Why is the usa considered as the largest trading nation?

The United States is the largest trading nation in the world, because the U.S. is exporting and importing more goods and services than any other country.

4. What sectors can us economy be divided into?

The U.S. economy can be divided into 4 sectors : a natural resource sector, manufacturing and energy sectors, service and commerce sector, information and technology sector.

5. What do these sectors deal with?

The first sector provides goods that come directly from natural resources : agriculture, forestry, fishing, and mining. The second sector includes manufacturing and the generation of electricity. The third sector, made up of commerce and services. It comprises financial services, wholesaling and retailing, government services, transportation, entertainment tourism, and other businesses that provide a wide variety of services to individuals and businesses. The fourth major economic sector deals with recording, processing, and transmission of information, and includes the communication industry.

6.What is the key component of the US economy?

The key component of the US economy is manufacturing

7.What are the leading categories of the US manufactured goods?

The leading categories of the US manufactured goods are chemicals, industrial machinery, electronic equipment, processed food and transportation equipment.

8.What is the largest sector of the US economy in terms of output and employment?

The largest sector of the US economy in terms of output and employment is the service and commerce sector.

9.When and how did the Internet begin?

The Internet began in the 1960s as a small network of academic and government computers primarily involved in research for the USA military. But soon it became a worldwide network providing users with information on range of subjects

10.What can you say about the US communication system?

The communication systems in the US are among the most developed in the world. Television, newspapers, and other publications, provide most of the country’s news and entertainment. On the average there are 2 radios and 1 television for every person in the US.

11.What are the country’s major mineral resources?

The country’s major mineral resources are coal, iron ore, copper, lead, zinc, natural gas, gold, silver

12.What makes the US the world’s richest agricultural country?

The nation’s favorable climate, soil, and water conditions make the US the world’s richest agricultural country

13.What are the most wide-spread branches of animal husbandry?

Cattle production, hog production, and chicken production are the most wide-spread branches of animal husbandry

14.Why is the USA the world’s largest importer of lumber?

Since all the US demand for forest isn’t satisfied, the United States has to import lumber.

15.What do the fishing grounds of the country provide?

Rich fishing grounds of the country provide a rich marine harvest, the commercial value of which is about evently divided between fish and shellfish.

14. THE ECONOMY OF GREAT BRITAIN

1. What place does the United Kingdom hold in the world and in Europe?

The United Kingdom of Great Britain and Northern Ireland, a leading trading power and financial centre, has the fourth largest economy in the world, the second largest in Europe, and is a member of the European Union as well as the United Nations and North-Atlantic Treaty Organization (NATO).

2. What is the United Kingdom composed of?

The United Kingdom is composed by the political union of four constituent entities: England, Scotland and Wales on the island of Great Britain and Northern Ireland on the island of Ireland.

3. What type of the economy does Great Britain have?

Great Britain has a mixed private and public enterprise economy.

4. What does the government do to make the British economy more efficient?

To make the British economy more efficient the government tries to stimulate innovations in industry, encourage competition, reduce taxes, promote exports, and work for world-wide free trade. The government provides financial assistance and guidance to small companies as small businesses employ more than a third of the private sector workforce.

5. What has been a key part of British economy for centuries?

Trade has been a key part of the British economy for centuries.

6. What has its prosperity been dependent upon?

Its prosperity has been depend upon the export of manufactured goods in exchange for raw materials and foodstuffs.

7. What can you say about the international trade of Great Britain?

Great Britain’s trade focus has shifted from the United States to the European Community, which now makes up over 50% of Britain’s trade. In addition, Commonwealth nations account for 11% of Great Britain’s trade. Germany, the United States, France and the Netherlands are Britain’s main export markets.

8. What does GD export and import?

The country’s chief exports are manufactured goods such as electrical and electronic equipment, aerospace equipment, machinery, chemicals, textile fibers, fuels, iron and steel, and transport equipment. The leading imports are manufactured and consumer goods, foodstuffs, industrial and electrical machinery, semi-finished goods, clothing and accessories, office machines and data processing equipment, and transport equipment.

9. What sectors can the British economy be divided into? What does each deal with?

According to the trends the structure of the British economy can be divided into three main sectors :

1.Primary industries that deal with providing raw materials and food from the land and the sea.

2.Manufacturing industries that deal with making finished goods from raw materials.

3.Service industries that deal with providing a wide variety of services.

10. Why is the country is self-sufficient in energy?

By successfully exploiting oiland gas from the North Sea Britain has become self-sufficient in energy .

11. What mineral resources does the country possess?

Great Britain is also rich in such mineral resources as iron ore, tin, limestone, salt, china clay, gypsum, and lead.

12. What the British agriculture known for?

The British agriculture is known for its high efficiency and productivity according to European standards and based on modern technology and research.

13. What are British farms engaged in?

About three-fifths of farms are engaged in dairy or beef cattle breeding and sheep-raising.

14. Production of what goods does manufacturing cover?

It is a broad category of output covering production of textiles, wood and metal products, paper, plastics, rubber, vehicles, machinery and equipment, and host of other produced goods.

15.What new industries has Britain made important advances in?

Britain has made important advances in electronics and telecommunications equipment, aircraft and aircraft engines, radio-isotopes and new medicines.

16.Why does Great Britain remain one of the most highly industrialized countries of the world?

Thanks to the increasing use of intensive methods and modern technologies Great Britain remains of the most highly industrialized countries of the world

17.Why is electronic data-processing equipment growing? What are the main electronicconsumergoods produced in the UK?

Britain has originated a lot of advanced technologies in microelectronics. The main electronic consumer goods produced are television sets, with an increasing proportion of widescreen and digital sets, electronic control equipment.

18.What can you say about the central bank of England? What is it responsible for?

The Bank of England, as the central bank, was nationalized in 1946 and is the bank of issue in England and Wales. It is responsible for the monetary policy of the country and also manages the country’s foreign exchange and gold reserves.

19.What is the basic unit of currency in Britain? What did the British government decide about euro?

The pound sterling is the basic unit of currency in Britain. The British government decided not to adopt the euro as its currency.

20.Why does government support and promote tourism?

Britain is one of the world’s foremost travel destinations and tourism is an essential part of Britain’s income. It employs about 1/5 million of the workforce and contributes about 3.5% to the GDP

21.What can you say about the London Underground?

London Underground operates more than 400km of railway and it serves 275 stations with more than 500 trains running during peak period. The underground provides reliable public transportation for an impressive number of commuters across a large metropolitan area.

15. THE ECONOMY OF UKRAINE

1. When did Ukraine gain its independence?

Ukraine gained its independence from the Soviet Unions on the 24th of August, 1991.

2. What problems did Ukraine face at the beginning of its independence?

Despite the huge amounts of natural resources possessed by the country, Ukraine entered the post-USSR era in a mess. A huge national debt, mixed with a heavy reliance on other nations for energy, and the political instability within the country during the move to a market economy has put a tremendous strain on the Ukrainian economy. The situation during the early 90's was so desperate that many workers haven't been paid for months, sometimes years. Other serious problems which occurred at the beginning of Ukraine's independence were high unemployment and inflation rates. In 1991 the unemployment rate was 19%, but by 1997 it had shrunk to 10%, slightly higher than Canada's rate.