Economy, Chief Goods and Services of the U.S. Economy

The U.S. economy, the largest in the world, produces many different goods and services. This can be seen more easily by dividing economic activities into four sectors that produce different kinds of goods and services. The first sector provides goods that come directly from natural resources: agriculture, forestry, fishing, and mining. The second sector includes manufacturing and the generation of electricity. The third sector, made up of commerce and services, is now the largest part of the U.S. economy. It encompasses financial services, retail and wholesale sales, government services, transportation, entertainment, tourism, and other businesses that provide a wide variety of services to individuals and businesses. The fourth major economic sector deals with the recording, processing, and transmission of information, and includes the communications industry.