Writing an essay on the US economy can be quite a difficult task due to the technical nature of the subject matter involved. Economics deals with facts, figures and analysis which must be accurate due to the sensitive nature of economics and the potential effects it has on people’s lives. Therefore, before putting pen to paper, it is important to have a well-rounded knowledge of the exchange system and economics in the US so as to choose an economics topic for presentation that truly interests you.
So here is a little introduction to exchange systems and the economics that drives them in the US. Exchange systems are the different ways in which trade is carried out between a consumer and a producer and the more trade a country participates in the better it becomes for its economy. Economics on the other hand is the social science that drives exchange systems, production and distribution. Now, it is important to note that this article isn’t about discussing the politics of economics but it is about helping students come up with essay topics on exchange systems and economics in the US. So here are some cool topics to help you get started on drafting that troublesome essay that has been keeping you up all night.
So here we are, at the end of the 20 topics on exchange systems and economics in the United States you can choose from to start your research on the subject matter of US economics. Visit our 10 facts on exchange systems and economics for a presentation as well as our genre-specific writing guide. In order to further help you draft a unique sample essay using on one of the topics above will be developed to provide you with guidelines on how to proceed with drafting your essay.
An Economy like that of the United States is one which is run on meeting both the demand of the domestic and international society it is a part of. And to meet these responsibilities, both big corporations as well as small businesses have their part to play in providing products for these consumers.
Although small businesses cater mainly to the needs of local consumers it is also very important to quantify, discuss the effects they have on the United States economy and these tasks will be carried out in the coming paragraphs.
So what are small businesses? According to the U.S. Small Business Administration (SBA), they are corporations, limited liability companies or proprietorships having no more than 500 working personnel. Also, the SBA puts the number of small businesses in operation in the US at approximately 27 million which goes to show the wide spread acceptance of small business in the United States. This acceptance has also led to SMEs contributing to the economy in the following ways.
Another interesting statistic on small businesses show that they are responsible for approximately 50% or the nation’s Gross Domestic Product due to the high rate in which they provide job opportunities for individuals residing in the US. The facts state that approximately 70% or first time workers get their start from working in small establishments which in turn reduces some of the social responsibilities of the government.
The huge resources big corporations pour into their innovative departments makes one expect that every innovative technique ever thought of begins and ends with big corporations but statistics paint a different picture.
According to the SBA, small companies develop more patents per employee than their larger counterparts. The SBA research pays the number or submitted patents per 100 employees in big corporations at 1.7 while small business generated an impressive 26.5 patents per employee. This is due to the flexibility and freedom to try new techniques out that small business encourage.
Although the majority of small businesses are owned by white males, the need to grow working with limited capital makes small businesses more flexible with their hiring policies. Therefore creating multiple opportunities for first time workers, women and people of minorities.
These opportunities give employees the perfect stage to learn and perfect their abilities as well as acquire some accomplishments that would serve them in the long run.
Big corporations are known for their outsourcing abilities which involve delegating production of certain tools and materials that do not fall under their core business activities to small businesses. The US automobile industry provides a perfect example of how both businesses complement one another. Statistics show that auto manufacturers rely on small businesses for the production of approximately 1,700 components needed for building their automobiles.
These instances alongside the fact that since 1995 small business has been responsible for approximately 64% of the new jobs in the US and has been responsible for 44% of its paycheck makes them the life blood of the United States society.
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