What is The United States economy based largely on?
337566
farming, forestry, and fishing 0.7%, manufacturing, extraction, transportation, and crafts 22.9%, managerial, professional, and technical 34.7%, sales and office 25.4%, other services 16.3% \nnote: figures exclude the unemployed (2005)
922152
You said you wanted serious answers, so I'll take you at your word. It's not nearly as bad as you think. Cheer up.\n\nYes, America owes trillions. But please remember three points:\n\n1. The vast majority of that debt is not owed to foreign nations. Over two-thirds of it is owed to the American people themselves. Everyone American who purchases US Savings Bonds or Treasury Bonds (T-Bills) is purchasing a portion of that debt.\n\n2. The American economy is worth approximately 3 trillion dollars a year. That means the US has about a two-to-one debt ratio. Putting that in micro-economic terms, it's the equivalent of someone who brings in 100k a year, and whose only debt is a 200k mortgage. Any economist would tell you that that person is doing very well indeed. Most people's debt ratio is far higher.\n\n3. The US has the lowest debt ratio of any industrialized country. No other country in europe or anyplace else has that little debt relative to the size of its economy.\n\nAs to your comments about the cost of the war. Yes, for now it's not cheap. But this is not a permanent expense. In a few years it will go away. So in the short term -- you're right -- it calls for a little belt tightening; but in the long run, it's not much to worry about.\n\nAlso, the amount of the budget consumed by all of the social-welfare programs of the US (minus Medicare and Social Security) amounts to no more than 3% of the annual budget. everyone always thinks its more; but seriously, it's a very small percentage. In Britain, social welfare costs are about 18% of the total budget. In France, about 22%; and I could go on, but I think you get my point.\n\nAs to your comments about trade. Actually, people are lining up to trade with America. America leads the world in Computer hardware and software sales. The agricultural industries of America sell to the world. While America has lost manufacturing jobs over the years -- this is not to worry, as America has transformed itself into the first Post-Industrial society, providing services to clients around the world that earn American companies hundreds of billions every year.\n\nAnd finally, yes, oil is a problem. But it's not just America's problem, it's a problem for everyone else as well. The greatest challenge of this century is going to find the substitute for the world's addiction to petrolium. But here's the good news. Because America has one of the strongest economies on earth, It's Americans who will have the greatest resources to come up with an answer. And that answer having been been found, will make Americans even better off tomorrow.\n\nDon't believe all the bad news you hear on the news. Remember, people in the media want ratings points. And they don't get viewers by concentrating on good news -- only bad. There's plenty of good news out there. Trust me.\n\nHope this answer helps. Cheers, mate.
779669
There's sadly only about 10-12 percent of actual US built things!\n\nI buy USA always, but the odds are against us!
174249
Start with the Statistical Abstract of the United States, at the link below.
120250
No. The economy in the US is changing--other jobs are being created here.
455756
"Europe's economic" what?
138536
A countries economy is it's money system.   It is how much money the government makes, (from taxes and resource collection) and also what that money is spent on (social programs and defense spending ect.).\n\nP.s.-Naveed Zafar Sheikh - see how he said 'simple terms'?  He seems like a student to me, or at least an economic novice.  Nice answer, but terrible at answering in the way the question asks.
779344
This is indeed a "booming economy".  I have heard the people of Haliburton say it a number of times.  Seriously, I am tired of people trying force feed us that the economy is doing so great.  It is not.  There are a number of problems with it.  Here are just a few.\n\n\n a one trillion dollar war\nout of control spending in government\nrecord numbers of foreclosures\ncollege tuition and health care costs doubling\n20% of Americans owning 80% of the stock\nrecord deficits in spending\nnational debt doubling\ntrade deficit every year for the past 30 years\nmillions more in poverty every year\nhalf a trillion dollars a year spent on interest this year on \nnational debt. yes, that was just the interest.\n"real income" down each of the last five years\npersonal savings at an all time low\n\n This doesn't sound like America.  Unfortunately it is.
224259
What economy are you referring to? If it's the US, it's already recovering north of a 5% for the first quarter of 2006.
757797
One is a country and the other is an economy?
905274
The basis for the modern American economy came from the arrangements made between (large) businesses and government after WW 2.  It has been argued that this relationship has been maintained with varying degrees of "coziness" for the last 60+years and that to maintain the growth of it, and our lifestyles, wars are intentionally created and fought so as to maintain/sustain our economy.\n\nI think it is a valid argument, primarily because Capitalism demands growth, particularly corporate growth, through either an expansion of markets or aquisition of cheap products and/or raw materials (i.e. oil, minerals) thereby assuring low costs of energy and production.  You might want to look up the book, "Confessions of an Economic Hitman" to find out just what methods are used to obtain these cheap materials.  The author has been interviewed on DemocracyNow! with Amy Goodman various times...  (The author used to work for the CIA.)\n\nFurther along the idea, the military is a very profitable industry and shareholders, millions of them, demand that their investments maintain their value.  If there's no NEED for military systems, no wars to fight, the value of their investments fall.\n\nLook into the Carlyle Group and their relationship with the military-industrial complex.  This is but one of many, many examples of how war is good for some - particularly the Bush family...  which I think, is an absolute disgrace for any American.\n\nLastly, there are many good characteristics regarding Capitalism, no doubt - However the *unrestrained* Capitalism we have today in the USA, IMHO simply isn't generally good for America nor the rest of the planet despite the billions of people who are involved for their personal benefit.
497734
The US's GDP for 2005 was 12,485,725.
1158240
The United States as a whole.\n\nIf you're looking for large markets within the US, pick any large city.  Use of E-Bay pretty much spans all geographic regions and foils any traditional labelling of which market is which.
642823
As it stands, the US economy is more "flexible." Currency markets are liquid, institutions (banks, government) are advanced and modern, and education/innovation is strong. Also just the fact that the US economy is so large 6x that of the next largest, gives them a tremendous amount of leverage (which they have taken). \n\nChina's economy is still ridged and protected in many areas. The banking system is still relatively weak and the markets are not strong at all. Because of these things, they cannot allow their currency to "float" on market forces.\n\nHaving said that, we are in the middle of a shift of economic power to the East and China will be at the center of it. In 20 years, there will be no question who's economy is stronger. China will continue to rise as the US continues to become a marginalized world influence.
49736
The United States of America.  Luxembourg has the highest nominal GDP per capita.
91710
Check out the sites on Global economy. This is much too indepth for short Y answers.
346633
Is our economy in the tank?  No.  Despite the lack of investment in our economic infrastructure during the last six years, the U.S. still possesses the most robust and innovative private sector in the world.