The population of India in 1978 was around 650 million.
India was the second most populated country in 1978, while China sat first with almost a billion citizens, and the United States stood third with over 200 million.
The US economic system is primarily a market system. The US economy operates as a free market, meaning private businesses and individuals have substantial freedom to buy, sell, and produce in a competitive environment. But the US economy is also regulated to a limited extent by the government, which is a feature of a command economy. Therefore, the US technically has a mixed economy.
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<span>The degree to which the king or queen holds absolute power under a monarchistic system of governance is always absolute. The king or queen has all say in terms of law, economics and military action when it comes to governing a land of people. Under this rule, the monarchs themselves believe that they have the "divine right" to hold the power that they do.</span>