Chapter 4 Section 2 An Economic Leader

American Economics – The United States is what type of economic system? _______________________ – Market – Being an economic system where the people have the say in business, this is also referred to as a __________________________. – Free enterprise – The American economy is the largest in the world. It is so large that even when Chinas’ and Japans’ economies are combined they still are not as big as the United States.

American Economics – Some of the United States major exports compared to the world are – ½ _________________, – Corn – 1/10 ______________________, – wheat – and 20% of the world’s ___________________, ______________________, – and ________________________. – Lamb, beef, pork

American Economics – With such large numbers, food is only ________of the world’s exports. – 2% – The U.S. is also rich in minerals. In comparison to the world 1/5 of the world’s ____________________ and ___________________, – Coal & Copper – 1/10 __________________________ -petroleum – There are also large amounts of other minerals as well such as ___________________, _____________________, ___________________, _______________________, ___________________.

American Economics – The largest part of the U.S. economy is services. The Service Industry means that a business provides services to people instead of producing goods. – What are some examples of services? ________________________, ____________________, __________________________________.

What Region is It ?

Answers 1. Mid West 2. South 3.North East 4. Pacific 5. Interior West

Economic Regions NORTHEAST: manufacturing, trade, and fishing are the heartbeat of this region. There are a series of major economic cities in the Northeast region such as ____________________, _________________________, ____________________________, _____________________________, _________________________. Fishing, manufacturing, trade, coal mining, fashion, entertainment, banking, insurance, finance, communications.

Economic Regions – THE SOUTH: Rich soil, warm wet climate make this region an agricultural region of the nation. – Crops such as ____________________, ________________________, _________________________ make the south flourish. – Tobacco, cotton, rice, sugar cane, peanuts, pecans, citrus fruits.

Economic Regions THE SOUTH : Rich in minerals such as – Oil Manufacturing center as well – Textiles – Airplane equipment – Electrical equipment

Economic Regions THE SOUTH: Known for its service industry due to places such as Disney World Kennedy Space Center Beaches

Economic Regions – THE MIDWEST : Known as AMERICA’S ___________________________ because of the miles upon miles of grain and soybean fields. – breadbasket – Crops grown in the Midwest region include _____________, ______________________, ___________________________, ________________________, __________________________. – Also due to the NAVIGABLE rivers, many of the cities in the Midwest have major ports

Economic Regions – Interior West – beautiful green scenery, but a lack of resources. – agricultural center lots of ranches for cattle and sheep raising. – Mining is very important in this region because of the various deposits of gold and silver found in the riverbeds and mountains. Major tourist centers include: Yellowstone, Grand Canyon, Denver, Rocky Mountains

Economic Regions – Pacific States are those in the western coast, plus Hawaii and Alaska. – Due to the great climate, this area is a major production of food. – Fishing is also very popular. – If you want to see a movie star you would probably want to go to this major city _____________________________? Hollywood