The main areas of consideration in the economy include labor, capital, natural resources, and the entire process from the production of goods from the raw materials to the consumption by the consumers…
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In the past, people used to undertake transaction using barter trade, but currently it is done by various mediums of exchange. The achievement of economic stability is not an easy task as it is usually influenced by internal and external factors. This paper seeks to give an in-depth analysis of the current USA economic situation taking into account analysis of labor, marketing, growth, and investing. Economy In the United States of America, numerous changes have been achieved in the economic system. In the year 2008, the recession threatened the economy which has since then been recovering until this year when the European region crises affected various economies across the globe. The reason for the impact to be felt in the United States of America is that there is not a single economy in the world that is entirely independent. This is mainly because economic activities, such as international trade, involve different countries which usually have differences in their economic capacity. In the achievement of the improved overall American economy, the following factors have played a significant part. (A).Technological Evolution It is evident that technological advancements have had great impact on the society, as well as the country as a whole. One of the biggest technological advancement made is the invention of computers and the internet. Through the internet, communication between various persons have been greatly improved which has generally affected the conduction of business transactions. Moreover, the internet provides a platform at which US traders can advertise and sell to various persons across the globe. This has been very rewarding and is evident in the ever-increasing number of organizations conducting both online and offline businesses, with a preference to online transactions. In the industrial sector, the technological advancement has led to the development of more efficient and high capacity machinery, which has significantly reduced the input costs and increased production. This directly translates to increased returns, which are currently achieved by many companies. The National security is very essential in ensuring that the economic activities run smoothly in the United States of America. In this regard, the technological advancement has ensured continuous improvement of the security system. This has helped to control various threats from our enemies, as no American citizen would wish to observe our economy being affected by terrorist activities, as in the case of September 11 attack. As for the consumers, technology has ensured that the products availed to them are fit for consumption and they have been provided with various means of payment, such as the use of debit card. (B). Geography The location of United States of America in the geographical map is good to its economic development. The country has a large stretch of it national boundary along the sea. This is equipped with numerous harbors, which have ensured that exports are made timely and effectively. In achieving this, improvements in the ports have been conducted in the twenty first century. A good example is the renovation conducted after the destruction caused by Katrina in 2005. (c). Social Organization The interaction between the American in their daily activities is very essential in the achievement of national success. Major revolutions in these issues were achieved in mid twentieth century with the passage of the Civic rights bill of 1964. Currently, the government has enforced laws that have ensured that discrimination by race, gender
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4 Pages(1000 words)Research Paper
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