The United States is considered the largest economy in the world. The U.S. corporations are the leading edge of the worlds technology revolution. The country has a capitalist economy in which individuals make most decisions, with little say from the government. The stock market has advanced from the 1990’s and the 2000’s. The unemployment rate has fallen about 10% in 5 years. However, the economy is still growing and addressing its different challenges such as rising medical and pensions costs, budget deficit and economic inequality (Kurian, George Thomas). Both, the United States, and Italy are industrialized countries, but they have different economies. Small family business in Italy that produce high-quality goods, are the backbone of the economy. Italy is the 11th largest economy. Northern and central Italy are much more industrialized than the South (mostly Sicily). Tourism in Italy is a major industry, also, clothing, footwear, motor vehicle and agricultural products (Kurian, George Thomas). Economy is defined as “the system of trade and industry by which the wealth of a country is made and used” (Cambridge English Dictionary). These two nations have different economies, which makes them
The United States is considered the largest economy in the world. The U.S. corporations are the leading edge of the worlds technology revolution. The country has a capitalist economy in which individuals make most decisions, with little say from the government. The stock market has advanced from the 1990’s and the 2000’s. The unemployment rate has fallen about 10% in 5 years. However, the economy is still growing and addressing its different challenges such as rising medical and pensions costs, budget deficit and economic inequality (Kurian, George Thomas). Both, the United States, and Italy are industrialized countries, but they have different economies. Small family business in Italy that produce high-quality goods, are the backbone of the economy. Italy is the 11th largest economy. Northern and central Italy are much more industrialized than the South (mostly Sicily). Tourism in Italy is a major industry, also, clothing, footwear, motor vehicle and agricultural products (Kurian, George Thomas). Economy is defined as “the system of trade and industry by which the wealth of a country is made and used” (Cambridge English Dictionary). These two nations have different economies, which makes them