1. Discusses and defines what an economic system is and its importance as a discipline of study. 2. Identify the general characteristics of each system, a. Market economic, b.command economy, c. mixed. 3. Mention two repercussions of each economic system on business. 4. Identify two countries that have each economic model. 5. Concludes the paper by discussing the role of government in business development and the structures that validate business processes. 5. References