social & ethnic groups
The economic activities of a society and how people earn a living (people’s jobs); this would also include a country’s main products and exports of a country. Gross domestic product, or GDP, refers to the monetary value of all finished goods and services produced within a country’s borders (usually per year). The United States ranks #2 in the world in highest GDP with $17.95 trillion (as of 2015), falling only behind China. The United States also uses a lot of imports and exports. Some of its largest export partners include Canada, Mexico, China, and Japan. Its largest import partners include China, Japan, Mexico, Canada, Germany. The type of economy that the United States has is a capitalist economy. This means that in the United States individuals make economic decisions based on supply and demand, and the government does not have much involvement in the economy. The currency of the United States is called the dollar.