In this project you will research one industry and you will discuss how it has an effect on the United States GDP and write a paper on it. Keep in mind that there are many industries, with some having subsectors. Below is an example of two different subsectors within the chemistry industry of the US. Make sure you use your sources properly to avoid plagiarism and cite your sources appropriately. You need to synthesize the information you find and form your own original thoughts regarding the industry you choose and your sources should only be used to further support of your ideas. Your final paper needs to be at least 500 words.
Subsector 1- Agricultural Chemicals: These play a crucial role in the farm economy and the food processing sector. Thanks to modern agriculture, farmers have doubled the production of world food supplies since 1960, tripled the output of foods like cooking oils and meats, and increased per capita food supplies in the developing world by 25 percent.
Sub sector 2- Pharmaceuticals: These include diagnostics, prescription drugs, vaccines, vitamins, and over-the-counter drugs for human and veterinary applications. This subsector also includes biotechnology products. Strategic investment in companies, facilities, and research and development is especially important for this subsector.
Guiding Questions- Some question to answer in your paper are:
- What is the US current GDP?
- How significant is this industry in the US? How much revenue does the industry bring?
- How does my industry affect the US GDP?