Bordering both the North Atlantic Ocean and the North Pacific Ocean, The United States is located between the countries of Canada and Mexico, in the North America.

The United States is the third largest country of the world by area (after Russia and Canada), and also by the population, after China and India. The US commands the biggest and most technologically powerful economy of the world, with a per capita GDP of about $38,000.

In this completely market-oriented economy, private individuals and business companies make most of the decisions independently, and the federal and state governments buy the required goods and services predominantly in the private marketplace. US business organizations enjoy substantially greater flexibility than their counterparts in the Western Europe and Japan, regarding the decisions to expand the capital plant, to lay off the surplus workers, and to develop new products. Unemployment stayed at lower levels.

The various long term problems encompass substantial investment in the economic infrastructure, increasing the medical and pension costs of an aging population, markable trade and budget deficits, etc.

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