The United States covers the entire mid-section of North America, and occupies a territory of 9,522,0572 square km, starting from Atlantic ocean situated in east to Pacific ocean situated in the west. It also consists of Alaska, in the north-west corner of America; and Hawaii found in the Pacific. Canada is situated to north of USA and Mexico to south. (fig 1)
1.2 CURRENCY:-
The currency of United States of America is Dollar (refer: fig2) and normally abbreviated as the dollar sign $ or US$ or USD. 1 dollar= 46.6RS (Indian Rupees).
1.3 POPULATION:-
The population in the year 2010 was estimated to be 308.4 million.
1.4 AREA:-
The area of United states is about 3,537,441 square miles . It has a coastline of 19,924 kilometers which is 8th longest coastline in the world.
1.5 IMPORTANT CITIES:-
The United States of America is a country located in North America. There are 50 states in the United States of America. Its capital city is Washington D.C.,ie District of Columbia known as Washington, the District founded on july 16, 1790. It has population of 5.4 million and is said to be eight-largest metropolitan area in country. (fig 3)
New York City is the biggest city in the USA ,which has population over 8 million people. Los Angeles is the second-biggest city in the USA. California has almost 4 million people. Chicago is the third-biggest city in the USA ,in which Illinois, has nearly 3 million people.
(2) POLITICAL SYSTEM IN USA:-
The development of American government:-
The United states inherited many government practices from the English rulers of colonial days. The English colonists brought with them the ideas of representative government and civil liberties when they came to America. These colonies became states after the Declaration of Independence in 1776.
They founded the first independent general government in the United States under the Articles of Confederation.
Thus, Federal system of government was established. The United States government shares government powers with the states under the federal system established by United States Constitution. A written constitution provides the basis of government in the United States. It divides powers and duties between the federal and state government. It specifies powers of each branch of the national government.
The three branches of Federal Government are Legislative Branch, Executive Branch and Judicial Branch:- Fig.4
Legislative Branch includes Congress consisting of house of Representatives and senate.
Executive Branch consisting of The President, The Cabinet and The Federal Departments and Independent Agencies.
Judicial Branch consisting of Supreme Court and other Federal Courts.
2.1 JUSTIFICATION:-
The government of the united states represents, serves and protects the American people at home and in foreign countries. It seeks not only to govern, but also to protect the liberty of the states and the people. The bill of rights in the constitution guarantees that all people shall have freedom of speech and of religion, freedom of the press, the right of assembly and freedom from arbitrary interference by federal government.it also guarantees the right to trial by jury and justice in the federal courts. The United States government acts to see that no state deprives any person of life,liberty or property without due process of law or denies equal protection of the law.
(3) ECONOMY:-
Economically, the United System is one of the world's most widely developed and productive nations. In the value of its agricultural, manufactured and mined products United States equals no other country. The standards of living of the people is high.
The United States is one of richest country in its economic production all over the world in terms of total economy. (GNP) the nation's gross national product- an amount of about $4 trillion was the value of all products such as services and goods that are produced by a country in a year, 1985. U.S. total domestic gross production in 2000 is shown in fig 5 (appendix).
Inspite of its overall strength, U.S. economy has faced problems from time to time. The problems suffered by U.S. includes recession also faced by other countries , depressions, and inflation (rising prices).
3.1 COUNTRY'S FACTOR OF PRODUCTION:-
Three main factor of production (fig. 6) found in USA are:-
Land or natural resources
Labor
Capital
Land or Natural resources:-
The raw materials is provided by a large variety of natural resources that is backbone of the economy of the United States. The most valuable resourses are minerals, soils, water, air, forest and fish.
Minerals:-
USA have large deposits of minerals like coal, natural gas and petroleum which are vital to country's industrial strength. Other minerals include copper, lead, gold, phosphates, potash, sulphur and zinc. However to meet it's need, the country has to import additional amounts of petroleum, iron ore and other minerals.
Water:-
For households, farms and industries the water is supplied by lakes, farms, underground deposits and rivers. The nation uses about 450 billion gallons of water daily. Houseold compromises about 10% of this total.
Soils:-
There are vast expanses of fertile soil which provides favourable conditions to growing crops in United States. Most fertile soils include the dark soils along the Interior Plains and alluvial soils along lower Missippi River Valley.
Forests:-
One of the many natural resourses that contribute to the US economy. Logs from forests are used for lumber and in making other valuable products.
Energy sources:-
The energy sources such as farms, households, factories, and motor vehicles consume vast amount of energy annually. So various sources are consumed to generate the energy. Eg petroleum, natural gas,coal, water, nuclear power etc.
LABOR:-
Technical and marketing expertise used in production know as human effort. The income received from ones own human effort is wages.
Manufacturing:-
It is single most important economic activity in the United States. It accounts for 20% gross natural products and around 19% of the workers. Egs:
Mining provides vital raw materials for American industry.
The construction industry provides jobs for many Americans.
Service industries are those economic activity that provide services rather than production. Eg data processing is one of many such industries. Other includes- government services and operation of hotels and restaurants.
Government spending plays a major part in the economy. Federal government, state government and local governments provides employment to 1/6th of the U.S. workers. Along with its role as an employer and purchaser of products, the government provides income to certain groups of people.
Transportation:-
A transportation network spreads out widely over the United States. Highways form a key part of the nation's excellent transportation system. The construction and repair of highways provides jobs for people throughout the country. It has an average of about 55 automobiles for every 100 people.
CAPITAL:-
It is economic term for wealth that is used to produce more wealth. People's invested saving are capital, because they produce more wealth through the interest or dividends that they earn. It is economic system controlled chiefly by individual and private companies instead of by the government. They own and direct most of resourses used to produce goods and services. The term capitalism comes from capital. Mainly refers to machines, roads, factories, office buildings, schools, infrastructure which are produced by humans to produce goods and services. It stresses private economic choices. People are free to decide how they will earn and spend their income. Companies also compete with one another to sell their products. However government controls some economy in every nation, but capitalism's emphasis on private economic decisions make it diffent from to other major economic system-
Communism and Mixed economies.
In communist economy, the government owns or controls most of resources used in production and develops national plans for their use.
In a mixed economy, the government does some economic planning and controls some industries, but also allows some individual choices.
There are three types of business capital:-
Fixed capital :-
These consists of factories, machinery, equipment, factories, new technology, computers and other goods which are designed so that there is an increase in the productive potential of economy in the future years.
Working capital:-
This consists of goods of finished and semi-finished goods which are consumed in near future or designed into a finished good in near future. Egs inventories.
Financial capital:-
The amount of money invested by the initiator of the business.
Besides thses number of factors influence economic decisions under capitalism are individuals, business, the market, income and government.
Individuals:- It influence the economy as consumers, workers and inverstors.
Business:- It decides what to produce and where to conduct their activities.
Also buy the necessary equipment and hire workers.
The market :- used by economists for places and situations in which people buy and
sell goods and services.
Income :- income in the capitalist economy depends chiefly on the supply of and demand for skills that society values most.
The government:- government in the capitalist nation allows individuals to use their property largely as they wish and to work where they please.
Besides the three factor of production mentioned, fourth factor now is to be considered is:-
Enterpreneurship:-
A free-enterprise system or modified free enterprise forms the basis of the economy of the United States, because it permits people to engage in economic activities largely free from government control. In such system, individuals and companies have freedom to make their own economic plans and decisions. Individuals and companies purchase industries, raw materials, equipment, factories and other items necessary for production and its their decision, as to how to use them for maximum profit.
(4) CONCLUSION AND FINDINGS:-
It can be said that USA is the third or fourth in terms of total area and third largest by both population and area. In tems of economy it is the world's largest economy and is said to be fifth of global GDP.
With such sprawling transportation network, communication, largest stock exchange, modernization of agriculture, infrastructure, technology, trades, research education U.S. has emerged as a superpower and would remain so far coming years.
For any country to scale such a great height, their fundamentals will have to be strong and they would have to put in great effort in all sections of research and development.
(5) APPENDIX:-
Fig 1. Location of USA
Fig 2. Currency of USA.
Fig 3 Important Cities of USA.
Fig 4. Constitutional Structure of USA.
Fig 5. U.S. Total Domestic Gross Production.
Fig 6. Economic System
