U.S. economy (Class assignment)

The economic system of any nation is the mechanism that incorporates natural resources, manpower, technology and managerial and entrepreneurial talent. The main objective of the entire economic system is to provide first and then meet the needs of society through the production and distribution of goods and services.

The first ingredient of the American economic system are natural resources from which the goods are produced. The United States received a double blessing of a land rich in mineral resources and fertile for farming, coupled with a climate benign. Secondly, the amount of manpower available to help determine the health of an economy. Generally, the U.S. has been fortunate to have enough people to constitute the necessary manpower for an ever-expanding economy. A third factor is the quality of manpower available. To evaluate the success of an economy is important to know how hard it is ready to work and how people are trained.

However, the existence of r4ecursos abundant natural and skilled manpower and well prepared, explains only part of the story. These resources should be directed as efficiently as possible to areas where they are most productive. In the U.S. economy, capital and administration play this role. Should be available in abundant resources to make significant investments. In the United States access to these resources abundant means that employers must have enough money.

Once that was done business investment capital, should be recruited someone to manage the new company. The modern North America has developed a chain of authority, from foreman to the executive. Good management is the difference between a successful economy or not. In the United States used to say that management was mainly a matter of systematic analysis, the "scientific management" became something real. Because of this the economic system of the United States is free enterprise one.