United States

:For other uses, see US (disambiguation), USA (disambiguation), and United States (disambiguation).

Economy

The economy of the United States is organized primarily on a capitalist model, with some government regulation in many industries. There are also some social welfare programs like Social Security and unemployment benefits, Temporary Assistance to Needy Families ("welfare"), the Earned Income Tax Credit, Medicare, and Medicaid. Such departures from a pure free-market economy have generally increased since the late 1800s, but are less pronounced in the United States than in other industrialized countries.

Related Topics:
Capitalist model - Government regulation - Social welfare - Social Security - Unemployment benefits - Welfare - Earned Income Tax Credit - Medicare - Medicaid - Free-market

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The country has rich mineral resources, with extensive gold, oil, coal, and uranium deposits. Successful farm industries rank the country among the top producers of, among others, corn, soy beans, wheat, sugar, and tobacco; the United States is a net exporter of food, and its rich wheat fields have been referred to as the "breadbasket of the world." The U.S. manufacturing sector produces, among other things, cars, airplanes, and electronics. The largest industry is now service, which employs roughly three-quarters of U.S. residents.

Related Topics:
Mineral - Gold - Oil - Coal - Uranium - Farm industries - Corn - Soy beans - Wheat - Sugar - Tobacco - Manufacturing sector - Cars - Airplanes - Electronics - Service

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Economic activity varies greatly from one part of the country to another, with many industries being largely dependent on a certain city or region; New York City is the center of the American financial, publishing, broadcasting, and advertising industries; Silicon Valley is the country’s primary location for high technology companies, while Los Angeles is the most important center for film production. The Midwest is known for its reliance on manufacturing and heavy industry, with Detroit serving as the center of the American automotive industry; the Great Plains are known as “the breadbasket of America” for their tremendous agricultural output, while Texas is largely associated with the oil industry; the southeast is a major hub for medical research, as well as many of the nation's textiles manufacturers.

Related Topics:
New York City - Financial - Publishing - Broadcasting - Advertising - Silicon Valley - High technology - Los Angeles - Film - Midwest - Detroit - Automotive industry - Great Plains - Texas - Oil - Medical research - Textiles

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Several countries continue to link their currency to the dollar or even use it as a currency (such as Ecuador), although this practice has subsided since the collapse of the Bretton Woods system.

Related Topics:
Currency - Dollar - Ecuador - Bretton Woods system

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The largest trading partner of the United States is Canada (20%), followed by Mexico (12%), China (Mainland 10%, Hong Kong 1%) and Japan (8%). More than 50% of total trade is with these four countries. In 2003, the United States was ranked as the third most visited tourist destination in the world; its 40.4 million visitors ranked behind France's 75 million and Spain's 52.5 million.

Related Topics:
China - Hong Kong - Japan - Ranked - Tourist - France - Spain

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