Topic: economy of great britain

Great Britain is a highly-developed naval and industrial power. Its economy was primarily based on private enterprises. However, some industries were nationalized after World War II. Now it has a mixed private- and public-enterprise economy.

The main sectors of British economy are manufacturing, services and agriculture. The share of industry in GNP is 11 times more than that of agriculture. Manufacturing plays a vital role in British economy

The rise of Great Britain as an industrial nation was partly due to the presence of considerable mineral resources, the most important of them being coal and iron. Next to coal and iron the chief minerals found on the British Isles are the building stone, marble, granite, slate, lead, tin, copper, zink, salt and china clay. But in the course of the last hundred years many of Britain’s most valuable and accessible deposits have been worked out.

Coal-mining, metallurgy, textile, shipbuilding are the older branches of industry. The new industries are the chemical, electrotechnical, automobile, aeromissile and electronics.

Big cities and towns such as London, Glasgow, Manchester, Liverpool, Newcastle, Sheffield and Birmingham have enterprises of nearly all branches of industry. The main centres of cotton and woolen industry are Leeds, Bradford and Manchester.

Services play an important role in British economy and make up an increasing proportion of the national income. This sector includes health, education, retail and wholesale trade, tourism, financial and business services, insurance, transport, etc.

London is the world’s principal trading centre for commodities, as well as an increasingly important centre for financial futures markets.

Agriculture is one of the most important sectors in British economy. It supplies nearly 2/3 of the country’s food and directly employs about 2.5 per cent of the working population. However its share of the gross domestic product is less than 3 per cent — the lowest figure among the developed countries.

Great Britain is self-sufficient in milk, eggs, to a very great extent in meat, potatoes and wheat. However it has to import butter, cheese, sugar, tea, fruit and some other agricultural products.

British agriculture is efficient for it is based on modern technology and research. The work in agricultural sector is highly mechanized. Computers and different agricultural machines are used by the farmers in Great Britain.

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Topic: economy of the united states of america

The United States of America is one of the largest countries in the world. It has a developed free enterprise economy. It means that people are able to own capital and property and to run their own businesses for making profit. Most economic decisions in the country are made in the marketplace. Nearly 90 per cent of the goods and services produced in the country each year come from privately owned companies and firms.

Despite the fact that the United States has a free enterprise system, government’s role in the economy is so important that economists describe it as a mixed economy. It is an economic system that combines elements of public ownership of the means of production with private ownership, and elements of free enterprise with government participation and control.

The United States owes its high level of economic development to its great wealth of minerals and fertile farm soil, together with a moderate climate. The territory is extremely rich in such minerals as coal, oil, natural gas, iron ore and non-ferrous metals. They provide a solid base for modern industry.

The country has very powerful industries, advanced technologies, and science. The structural composition of the US industry shows a marked predominance of heavy industry, namely mining, chemical, metallurgy, machine-building, nuclear power and aeromissile industries. Electronic and electric engineering, transport, communication and machine-tool industries can be found almost in all large cities of the USA.

Agriculture is one of the most important sectors of the US economy. It accounts for about 3 per cent of the GNP. Farms are owned by the people who operate them and by business corporations. Farming is largely mechanized and scientifically controlled.

American agriculture produces more food products than any other capitalist country. Production of most crops substantially exceeds domestic needs, making the United States a leading exporter of food.

The United States harvests a lot of vegetables such as tomatoes, potatoes and onions. Florida and California are famous for their fruit production.

Animal husbandry is also developed in the country. Pastures occupy more than one-forth of the United States. The highlands in the West of the country are famous for their dairy and beef cattle breeding, pig raising, and sheep farming.

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