USA - GDP - What makes it so large at over 11 trillion?

Question

Is it due to having more factors of production (land, labor and capital) and entrepreneurs? Any other reasons?

Answer 1

It's at 13.5 trillion now ... but ... it is a function of high population & high economic productivity. US will always have a larger GDP that Japan or Germany because we have far more people (300 million versus 127 million and 82 million). That provides labor.

US has a much larger GDP than populous nations China and India because we have much greater productivity -- the average worker produces a far greater value of goods and services in the US.

The productivity results from land, capital, and entrepreneurs -- but also some things less easily categorized in those four areas: The economic system itself (free market capitalism), technology, cultural norms that appreciate risk-taking and entrepreneurship, the tradition of an Anglo-Saxon legal framework. Some other culture sitting on the same land with the same population would be less productive.