Transcript The Economy

PPT Notes 6.2
Economy and Culture
of the U.S.
Multinational Corporations
World’s Greatest Economic Power
•The U. S. has 7% of the world’s land and 5% of the
world’s population – more than 280 million people
•The U.S. leads the world in agricultural
products, manufactured goods, and global
trade. It is the world’s largest economy.
•The US accounts for more than 10% of the world’s
exports, which are goods sold to another country.
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World’s Greatest Economic Power
 Three factors contribute to the overall success
of the American economy:
1. Natural resources: Pg. 120
2. skilled labor:
3. stable political system: Democracy
 The economy is run on free enterprise in
which private individuals own most of the
businesses, resources, and technology, and
can operate them for a profit. (Government has
little control over businesses)
The Economy
•The U.S is the world’s major trading nation, leading the
world in the value of exports & imports.
The U.S. exports raw materials, agricultural products,
and manufactured goods and imports goods:
automobiles, electronics equipment, machinery, and
clothing.
Multinationals- American corporations are involved in
businesses worldwide. (McDonalds, Walmart,
Disneyland, Starbucks.)
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What does the U.S.
IMPORT or buy from
other countries?
What does the U.S.
Export or sell to other
countries?
Import
Export
Service Industries
 The economy today is driven by service industries
that produces a service rather than a product. -Services are: finance, medicine, education,
information processing, transportation
 This type of economy is called a postindustrial
economy – one where manufacturing no longer
plays a dominant role.
A
Diverse
Society
 U.S.: A nation of immigrants
 Approx. 70% came from Europe decent, 13% Hispanics,
12% African Americans, 4% Asian, 1% Native Americans
 English is the dominant language. Spanish is 2nd
 Freedom of religion, 1,000 different religious groups
practice their faiths in the US. Major groups include
Christians, Protestants, Catholics, Jews, and Muslims.
 Influence from Native Americans and early European
settlers is evident in the American arts and culture.
 Examples of American creations include the skyscraper,
motion pictures, Hollywood, jazz, blues, gospel, rock ‘n’
roll, and bluegrass music.
America Today
 80% of the people live in cities or surrounding
suburbs.
 Automobile and a highly developed transportation
network (highways, expressways, railroads,
airlines) has made travel easier.
 Nearly 50% of adults Americans are employed, ½
of those are women.
 7/10 Americans work in the service industry.
 Americans value education. There are 2,300 four
year public and private colleges and universities in
the U.S.