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The United States is one of the largest and most technologically developed countries in the world. The Gross Domestic Product of the country in terms of purchasing power parity of the country has reached at $12.36 trillion (2005 est.).
Agriculture and Industry Services and ProductsCalifornia economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of agriculture and industry goods and services. The balance between California various economic sectors differs largely between various regions and other states in the US.
As of 2005, California has the fifth largest economy in the world. It is responsible for 13% of the United States' gross domestic product (GDP). The gross state product (GSP) is about $1.4 trillion ($1,400,000,000,000, as of 2005), making it greater than that of every other US state, and most countries in the world (by Purchasing Power Parity).
The predominant industry, more than twice as large as the next, is agriculture. This is followed by aerospace; entertainment, primarily television by dollar volume, although many movies are still made in California; and light manufacturing .
California Agriculture and Industry
Vegetables, fruits and nuts, dairy products, cattle, nursery stock, grapes.
California is the nation's leading agricultural state, producing a wide variety of fruits and vegetables including carrots, lettuce, tomatoes, onions, and broccoli. The state's most valuable crops include cotton, grapes, and oranges. California is also a leader in the production of dairy products
A central feature of the US economy is a reliance on private decision-making ("economic freedom") in economic decision-making. This is enhanced by relatively low levels of regulation, taxation, and government involvement, as well as a court system that generally protects property rights and enforces contracts.
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