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American Economy

American economy is the largest in the world. The dollar is the currency that is highly used in the world. The economy in US is founded on a highly developed infrastructure, natural resources and escalating productivity.

Composition of the economic sectors

Agriculture contributes very low levels of the national economy. The arable land is used technologically advanced for agribusiness. This has led to America’s ability to control a greater percentage of world’s grain exports.

The American economy is the third biggest producer of oil and natural gas in the planet. Moreover, her trade and manufacturing affairs are well structured. This is boosted by influential markets in finance and investments in foreign markets. However, the American Economy faced challenges in 2007-08. This led to financial crisis. The economy began to recover in the subsequent year.

Moreover, the substantial growth has been witnessed in areas such as telecommunication, heavy machinery, pharmaceuticals and textiles. Those enterprises employ both high skilled and semi-skilled labor. The largest output in the manufacturing industry is the aircraft manufacturing. Financial position this gives a representation of 15.7 times, the values of the annual gross domestic products. Low rates arise due to negative real interests rates. This is especially when the interests are imposed on the government debt. This leads to low rates.

The nation’s financial position takes into account the household, business and government property within its borders.

Key elements in the American economy

Scientific research and development have led to technological innovations. The innovation are in business, medicine, political and financial fields. Businessmen indulge in startup companies. This involves corporates venturing and large entity organizations. The business offer employment opportunities to the citizens and revenue to the state.

The gap amongst the rich and poor is higher in America. This is as compared to other developed nations. The populace living in the regions with high poverty live in deplorable conditions. Such regions have low accessibility to education, increased crime rates, and decreased accessibility to credits and wealth accumulation. This makes the citizens go through psychological and physical ailments.

The levels of income structures in America are not balanced. This is due to academic disparities and other factors that affect the employment structures. Some worker have a high income levels than other working for the same employer. The family income levels affect the living standards of the people.

The American economy is the planet’s largest economy. The economy is driven by technological advancement and entrepreneurships. These create a foundation for innovation which are critical for business and generation of finances.

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