The United States of America is a federal republic on the continent of North America. It is the third largest country in the world after Russia and Canada. The estimated U.S. population for the year 2010 is 307,006,550 third in the world behind China and India. The United States consists of 48 contiguous states and the noncontiguous states of Alaska and Hawaii. The national capital is Washington, D.C., located along the banks of the Potomac River between the states of Maryland and Virginia. The US has the largest and most technologically powerful economy in the world. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services in the private marketplace.