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How My Economic Habits Affect The Economy Of The United States

558 Words3 Pages

The United States of America has a massive economy. Economy is “the system of trade and industry by which the wealth of a country or region is made and used.” “The Gross Domestic Product (GDP) in the United States was worth 17419 billion US dollars in 2014.” Even though the economy is very large, my personal economic habits have an effect on the economy of the United States. I have a great impact on the economy because I eat out almost every day. In 2013, the United States alone spent “$1.4 trillion on food and beverages” of that “31.5 cents [of every dollar] went to pay for services provided by food service establishments.”3 That amounts to 4.41 billion dollars that was spent dining out at restaurants in 2013. Even though I spent only a …show more content…

The employees of the restaurant are not limited to the people who are seen, but also include the people who work at corporate offices. Those employees then spend their money on a variety of goods and services, and part of that money spent is allocated to the employees of the second company as their pay. They in turn spend their money at other companies, and the circle continues on indefinitely. So by my spending money at one restaurant, I have started or more precisely continued a cycle of spending that never stops. This cycle becomes especially impactful on a local level because all the money is being circulated into a small economy. If I eat at a locally owned restaurant with employees from the Franklin County, then the money I spend there will be passed on to people from the restaurant. Since they live in the area, they will spend a portion and most likely a large majority of their money in Franklin County. If this occurs, then the money that I spent is essentially spent over and over again in our local

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