Chapter 13Lesson 3

The American Economy

Diversity

The U.S. economy is very diverse. It has many types of industries and has created many new kinds of jobs for American workers.

A Changing Economy

Traditional Jobs Farming Fishing Mining Manufacturing

Current Service Jobs Restaurants Car Repair Doctors Teachers Banks

4 out of every 5 Americans have a service job.

A Changing Economy

Technology effects the kinds of jobs people do.

High-Tech Industries continue to grow.

Examples:RoboticsComputers

The Information Age

Today, organizing and storing information is a major industry.

Setting up websites, e-mail, and computer networks is one of the fastest growing industries.

The way people buy and sell goods has also changed dramatically in the past 20 years.

E-Commerce: electronic commerce (buying and selling things online.

Medical Advances

LasersScopesX-RaysMRIs

A Global Economy

States, as well as countries, are interdependent. (They depend on each other for goods, products, and services)

Goods from the U.S. are sent all over the world.

At the same time, many goods from other countries are imported into the U.S.

A Global Economy

International trade allows countries to buy goods that are not found or produced in their own country.

Main U.S. Trading Partners:

Canada, China, Britain, Germany, Japan, Mexico

A Free Enterprise Economy

In this type of economy, people own and run their own businesses.

In other types of economies, the government owns the businesses. It tells factories what to produce, and how much to charge.

Free Enterprise

Because of our economic system, many new businesses have been created.