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.
California Agriculture and Industry
$1,563,562 and 834% and 9 times higher than the national state average, $187,440. California has the highest GSP out of the 50 states.
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 .
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
Electronic components and equipment, aerospace, film production, food processing, petroleum, computer hardware and software, and the mining of borax, and tourism.
The state manufactures electronic equipment, computers, and transportation equipment. Southern California forms one of the largest manufacturing regions in the nation. To the north, "Silicon Valley" has become a center for the development of computer hardware and software.
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.