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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 in KansasKansas 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 Kansas various economic sectors differs largely between various regions and other states in the US.
Kansas Agriculture and Industry
Kansas's real gross state product in 2012 was estimated to be $118,523 which was $68,917 and 37% lower than the national state average, $187,440. Kansas has the 31st highest GSP out of the 50 states.
Historically, Kansas has had an agricultural economy. Today, manufacturing and services produce more income, but farming is still important, and Kansas ranks third in the US in the number of acres devoted to agriculture. Kansas leads the country in its production of wheat, and is also an important producer of grain sorghum, corn, hay, soybeans, and sunflowers. However, Kansans started raising cattle in
the 1880s and cattle and calves represent its most valuable agricultural product. The Kansas City stockyards are among the largest in the US, and food processing is the state's third largest industry.
Cattle, wheat, sorghum, soybeans, hogs, corn.
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.