The United States is the world's greatest economic power in terms of gross national product (GNP) and is among the greatest powers in terms of GNP per capita. The nation's wealth is partly a reflection of its rich natural resources. With only 5 percent of the world's population, the United States produces nearly one-fifth of the world's output of coal, copper, and crude petroleum. The agricultural sector produces nearly one-half of the world's corn (maize); nearly one-fifth of its beef, pork, mutton, and lamb; and more than one-tenth of its wheat. The United States owes its economic position more to its highly developed industry, however, than to its natural resources or agricultural output.

The American economy produces and Americans consume more than any other economy in the world. It also plays a pivotal role in a global economy, where the economies of all nations have to various degrees become interdependent. The article United States (Economy) first describes the workings of this economy. For example, it explains the four main factors governing production: natural resources, labor, capital, and entrepreneurship. The article also discusses the goods and services produced in the United States, the role of capital, and saving and investment in the American economy. It details how money and financial markets work, the makeup of the labor force, how the world economy affects the American economy and vice versa, and how different types of businesses—from megacorporations to mom-and-pop grocery stores—function in the American economy.

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $36,200. In this market-oriented economy, private individuals and business firms make most of the decisions, and government buys needed goods and services predominantly in the private marketplace. US business firms enjoy considerably greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, lay off surplus workers, and develop new products. At the same time, they face higher barriers to entry in their rivals' home markets than the barriers to entry of foreign firms in US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment, although their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The years 1994-2000 witnessed solid increases in real output, low inflation rates, and a drop in unemployment to below 5%. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical costs of an aging population, sizable trade deficits, and stagnation of family income in the lower economic groups. Growth weakened in the fourth quarter of 2000; growth for the year 2001 almost certainly will be substantially lower than the strong 5% of 2000. The outlook for 2001 is further clouded by the continued economic problems of Japan, Russia, Indonesia, Brazil, and many other countries.