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Ch 6 Sec 2- Economy and Culture of US

Ch 6 Sec 2- Economy and Culture of US. Students will Identify the sources of economic power in the US Examine the cultural diversity of US Describe American life today

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Ch 6 Sec 2- Economy and Culture of US

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  1. Ch 6 Sec 2- Economy and Culture of US • Students will • Identify the sources of economic power in the US • Examine the cultural diversity of US • Describe American life today • What factors make a country economically powerful? (Think- Why are the US, China, Japan, and Germany the richest countries in the world today?)

  2. World’s Greatest Economic Power- US has the world’s largest economy (GDP 2010 $14.6 trillion ($14,587,000,000), China $5.9 trillion • Per Person $47,150 (#12 largest among large countries, China and Mexico not ranked in top 60 countries) high standard of living for individuals • Big MAC Index (gives a relative idea of how expensive or cheap it is to live in that country by looking at the cost of a Big Mac) $4.20 (Norway $6.79 most expensive, India $1.62 cheapest, Mexico $2.70) • Exports (goods US sells overseas) #2 12% of all exports (#1 Euro Zone of 16 countries 16%, #3 China 9%, #4 Japan 5%

  3. Three factors contribute to US success 1) Natural Resources- stuff from earth worth money (copper #4, lead #3, zinc #4, aluminum #5, gold #3, silver #5,rubber #5, cotton #3, platinum #3, oil #3 producer 8,000 barrels a day, natural gas #1, coal #1) 2) Skilled work force- highly educated 18 of top 24 universities in US/ 6 in CA (#1Harvard, #2Stanford, #4 Berkeley, #6 Cal Tech #12 UCLA, #15 UC San Diego, #17 UC San Francisco, 3) Stable government- little corruption and lots of trust that Gov. will do its job US is ranked #2 in global competitiveness helped by Gov. efficiency and infrastructure Free Enterprise- private individuals own most of the resources, technology, and businesses

  4. Agricultural and Industrial Giant- US is the #3 producer of food in world at $183 billion (China #1 at $489 billion, India #2 $202bil. 2009)Why do China and India have to produce more food than the US? • Agriculture- US feeds the world (40% corn, 20% cotton, 10% of wheat, cattle, hogs 2009) • What factors allow the US to grow so much food? • US has good soil, good climate, and mechanization • Industry- industrial output is larger than any country ($3.07T, #2 China $2.1T) • Largest industries are oil, steel, transportation equipment, chemicals, electronics, food processing, telecommunications, consumer goods, lumber, and mining • 9/10 most valuable companies in the world are American (by market value 2013- how much they are worth) Guess • #1 Apple ($460bil, #2 Exxon-Mobile $383bil, #3 Google $296bil., #4 Berkshire Hathaway $278bil, #5 Microsoft $260bil., #6 Johnson and Johnson $242bil., #7 Walmart $238bil, #8 General Electric $238bil, #9 Chevron $237bil, #10 Petro China $236bil.) • Regions are famous for producing certain products- Detroit/Cars, Seattle/Airplanes, Los Angeles/Defense/Entertainment, Silicon Valley/ Computers • Is the US in trouble economically? Are we in danger of being surpassed by China , Asia, or Europe? Why

  5. Postindustrial Economy- America is moving away from being an agricultural and manufacturing nation, and instead is becoming a service oriented nation(US manufacturing output is #2 at $1.83bil (China #1 at $1.85bil) where as service output is #1 at $10.5bil (Japan #2 at $3bil.)Look at the map on P140 answer ? 1,2 • Service Industry is any economic activity that produces a service rather than a product (information processing/computers, finance/$/stocks, medicine/hospital/health, transportation/driving/delivery, education/teaching • 3 out of 4 jobs today is in service • Postindustrial Economy- manufacturing no longer plays as important of a role • Trade- US is a major trading nation • Export (goods sold to other countries)- raw materials, agriculture, and manufactured goods • US #3 exporter at 8.5% (China #1 9.6%) • Import (goods US buys from other countries)- Automobiles, electronic equipment, machinery, and clothes • US #1 importer at 12.7% of world’s imports • Why do you think the US has other countries make goods for us? • What is wrong with importing more than we export?

  6. Diversity- US is a nation of immigrantsWhat % of Americans do you feel are white, Hispanic, and African/American? • Make up of United States • White 70% • Hispanic- 13% • African-American 12% • Asian-American 4% • Native American 1% • P 142 What regions do the most Af/Am ,Hispanics , and Asians live? Why? • Language- English dominant language, Spanish #2 • Religion- 1000 different faiths in US • 56% Protestant • 28% Catholic • Jews and Muslims both 2% • Arts movie and music most influential arts forms today • African-Americans- invented jazz, blues, gospel, rock n roll • Country from British Isles

  7. American Life today- 309mil people live in US • Where do they all live? • Largest Cities- NYC 19.4mil (#6 world), LA 12.8mil (#12), Chicago 9.2mil (#24), Miami 5.7 (#47), Philadelphia 5.6mil (#49), Dallas 5mil , Atlanta 4.7 mil, Boston and Houston 4.6mil • 80% live in cities and suburbs (areas surrounding cities) due to wide spread ownership of automobiles (1 car for 1.3 people, 3.5 million miles of roads) • Does the US have enough roads or too many cars? Explain • How Americans work and play? • 50% of adults are employed (1/2 are women) • Why are so many women working today? • 7/10 have service industry jobs requiring higher level of education • 2,300 colleges in US • Favorite sports- football, baseball, basketball, gold, soccer, tennis, and skiing (most every city has a sports team) • Other activities- playing video games, internet, computer • Problem- 1 in 10 Americans live in poverty (challenge for Gov. is how to bring those in poverty up into mainstream)

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