Economy of the united states of america

1.What role does the government play 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.

2.What role does international trade play in the us economy?

The international trade and the policies that encourage or restrict the growth of imports and exports have a wide-ranging effect on the US economy. It increases the total level of production and consumption in the world, lowers the cost of production and prices, that consumers pay, and increases the living standard.

3.What sectors can the us economy be dividing in to?

The US economy can be dividing into four sectors that produce different kinds of goods and services. The first sector provides goods that come directly from natural resources. The second sector includes manufacturing and the generation of electricity. The third sector, made up of commerce and services, is now the largest part of the US economy. The fourth major economic sector deals with recording, processing, and transmission of information, and includes the communication industry.

4.What do the US economy sectors deal with?

The first sector of the US economy deal's with goods that come directly from natural resources. The second sector deal's with manufacturing and the generation of electricity. The third sector, deal's with commerce and services,. The fourth major economic sector deals with recording, processing, and transmission of information,

5.What are the leading categories the US manufacturing goods?

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

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

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

7.Why are transportation- related businesses considered to be an important part of the service industry?

Transportation-related businesses are an important part of the service industry. Trucks, railroads, and ships transport goods to the markets across the country. Commercial airlines, railroads, bus companies, and taxis move tourists and commuters to their destinations.

8.What are the major mineral resources in the US?

The United States has substantial mineral deposits within its borders. It leads the world in the production of phosphate, an important ingredient in fertilizers, and ranks second in gold, silver, iron ore, copper, lead, zinc, natural gas, and coal.

9.What can you say about the country’s petroleum production?

Petroleum production is third in the world, after Russia and Saudi Arabia. Petroleum provides 39 percent of the total energy consumed in the US. Petroleum is refined into gasoline, heating oil, and the petrochemicals used to make plastics, paint, pharmaceuticals, and synthetic fibers.

10.What can you say about US agriculture?

Agricultural output in the United States has historically been among the highest in the world. Despite its vast output, the US economy is so large and diversified that agriculture accounted for only 2 percent of annual GDP and employed only 3 percent of the workforce. Bigger farms, operated as large businesses, have increasingly replaced small family farms. By applying mechanization, technology, efficient business practices, and scientific advances in agricultural methods, larger farms produce great quantities of agricultural output using small amounts of labor and land.

11.What makes the Us the world’s richest agriculture nation?

Cultivated farmland constitutes 19 percent of the land area of the country and makes the United States the world's richest agricultural nation.

12.Why is the US self-sufficient in agricultural products?

The USA is self-sufficient agricultural produces, because the nation's favorable climate, soil, and water conditions, mechanization, technology, efficient business practices, scientific, advances allow farmers to produce huge quantities of farm produces, enough to feed, the county’s population, and to export it.

13.What are the most widespread branches of animal husbandry?

The most widespread branches of animal husbandry are cattle production, hog production and chicken production.

14.Why is the farming a big business in the US?

Bigger farms, operated as large businesses, have increasingly replaced small family farms. By applying mechanization, technology, efficient business practices, and scientific advances in agricultural methods, larger farms produce great quantities of agricultural output using small amounts of labor and land.