THE ECONOMY OF THE UNITED STATES OF AMERICA
The United States has a mixed economy. The government does play an important part in the national economy. It provides services and goods that the market cannot provide effectively, such as nation defense, public goods and services, assistance programs for law-income families. And incentives to encourage the production and consumption o g certain types of products. The USA is the largest trading nation, exporting and importing more goods and services than any other country. US economy can be divided into four sectors. The first sector provides goods that come directly from natural resources. The second sector includes manufacturing of electricity. The third sector made up of commerce and services. The fourth sector deals with recording, processing, and transmission of information. Manufacturing is the key component of the US economy. The leading categories of the US manufactured goods are chemical, industrial machinery, electronic equipment, processed foods, and transportation equipment. The largest sector of the US economy in terms of output and employment is the service and commerce sector. The Internet began in the 1960s as a small network of academic and government computers primarily involved in research for the US military. The US communications systems are among the most developed in the world. The country's major mineral resources are gold, silver, iron ore, copper, lead, zinc, natural gas and coal. The nation’s favourable climate, soil and water conditions make the USA the world's richest agricultural nation. Cattle production, hog production, and chicken production are wide-spread throughout the United States. The high production levels do not satisfy all of the US demand for forest products, the United States has to import lumber. Rich fishing grounds of the country provide a rich marine harvest.
THE ECONOMY OF GREAT BRITAIN
What place does the United Kingdom hold in the world and in Europe?
The United Kingdom`s economy hold fourth largest economy in the world, the second largest in Europe
What is the United Kingdom composed of?
The United Kingdom is composed by the political union of four constituent entities1: England, Scotland and Wales on the island of Great Britain and Northern Ireland on the island of Ireland.
What type of the economy does Great Britain have?
Great Britain has a mixed private and public enterprise economy
What does the government do to make the British economy more efficient?
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To make the British economy more efficient the government tries to stimulate innovations in industry, encourage competition, reduce taxes, promote exports, and work for worldwide free trade.
What has been a key part of British economy for centuries?
Trade has been a key part of the British economy for centuries.
What has its prosperity been dependent upon?
Its prosperity has been dependent upon the export of manufactured goods in exchange for raw materials and foodstuffs.
What can you say about the international trade of Great Britain?
Its trade with Germany, United State, France, Netherlands, Ireland and other
What does Great Britain export and import?
The country’s chief exports are manufactured goods such as electrical and electronic equipment, aerospace equipment, machinery, chemicals, textile fibers, fuels, iron and steel, and transport equipment. The leading imports are manufactured and consumer goods, foodstuffs, industrial and electrical machinery, semi-finished goods, clothing and accessories, office machines and data processing equipment, and transport equipment.
What sectors can the British economy be divided into? What does each deal with?
British economy can be divided into three main sectors:
1. Primary industries)that deal with providing raw materials and food from the land and the sea (energy resources, agriculture, forestry, fishing and water supply) — 13%.
2. Manufacturing industries that deal with making finished goods from raw materials (electronics, aerospace, chemical, plastics, paper and printing industries) — 22%.
3. Service industries that deal with providing a wide variety of services (banking, insurance, computing, tourism etc) — 65%.
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