15: California’s Economy
- Define the subject of economics.
- Outline the history of the discipline of economics as it is seen in California’s history.
- Identify examples and definitions of the primary, secondary, and tertiary sectors.
California's economic story emerges not from a singular point on a map, but from a vibrant tapestry woven from geography, resources, and a dynamic historical narrative. While its diverse landscape, from sun-drenched beaches to towering redwoods, embodies inherent abundance, it is the intersection of these elements with the spirit of its people – the pioneering audacity, the clash of cultures, and the insatiable thirst for innovation – that has propelled California from its humble beginnings to a global economic powerhouse. Throughout this text, we have explored a variety of economies that have built California, but this unit will define economics as a discipline, reobserve some economies and ultimately learn why California has the largest economy of the United States, with a $3.8 trillion gross state product (Fun Fact- if California were a sovereign nation, would rank as the worlds’ 5 th largest economy, behind Japan and ahead of India-as of 2023)