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 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.)

The Economy

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What does the U.S. Export or sell to other countries?

What does the U.S. IMPORT or buy from other countries?

Export

Import

Service IndustriesThe 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 SocietyU.S.: A nation of immigrantsApprox. 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 Today80% 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.

1/10 people in America lives in poverty.