The economy of the united states of america

1.What type of economy does the USA have?

The US has a mixed economy. It is a dynamic, free-market system that is constantly developing the choices and decisions made by millions of citizens.

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.

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

the USA considered as the largest trading nation, importing and exporting more goods and services that any other country.

4.What sectors can US economy be divided into?

The US economic activities are divided into four sectors: 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, is now the largest part of the US economy. It comprises financial services, wholesaling and retailing, government services, transportation, tourism, entertainment and other businesses. The fourth sector deals with recording, processing and transmission of information and includes the communication industry.

5.What do these sectors deal with?

The US economic activities are divided into four sectors: 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, is now the largest part of the US economy. It comprises financial services, wholesaling and retailing, government services, transportation, tourism, entertainment and other businesses. The fourth sector deals with recording, processing and transmission of information and includes the communication industry.

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

manufacturing is the key component of the US economy.

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 foods, 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 US military.

10. What can you say about the US communications systems?

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. Most communication media in the US are privately

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

It leads the world in the production of phosphate and ranks second in gold, silver, iron ore, copper, lead, zinc natural gas, and coal.

12.What makes the USA the world's richest agricultural nation?

The US has some of the best cropland in the world. Cultivated farmland constitutes 19 percent of the land area of the country and makes the US the world’s richest agricultural nation in the world.

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

Cattle production, hog production and chicken production are wide-spread throughout the United States.

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

Since these high production levels, however, do not satisfy all of the US demand for forest products, the United States has to import lumber, most of which comes from Canada

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

The fishing grounds of the country provide a rich marine harvest.