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Zavala
State Economy
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.).
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Texas EconomyAgriculture and Industry in TexasTexas 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 Texas various economic sectors differs largely between various regions and other states in the US.Texas leads the United States in its production of oil and natural gas. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. In agriculture, Texas is also a
national leader, specifically in the production of cotton, cattle and cottonseed. Texas has more farms, farmland, sheep and lambs than any other state in the US Finally, Texas is an important state in the area of commercial fishing, particularly for shrimp and oysters. Texas Agriculture and IndustryTexas Agriculture:Cattle, cotton, dairy products, nursery stock, poultry, sorghum, corn, wheat. Texas Industry:Chemical products, petroleum and natural gas, food processing, electric equipment, machinery, mining, tourism. Texas remained largely rural until World War II, with cattle ranching, oil, and agriculture as its main industries. Contrary to popular mythology, cattle ranching was never Texas's chief industry. Before the oil boom, back to the period of the first anglo settlers, this was cotton farming (as in most of the South). Texas is one of the top filmmaking states in the United States, just after California and New York. In the past 10 years alone (1995-2004), more than $2.89 billion has been spent in Texas for film and television production. |
State Economies
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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.
The US is rich in mineral resources and fertile farm soil. It also has extensive coastlines on the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes along the US border with Canada - provide shipping access. These waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit. |