This document provides an overview of different economic systems and how goods and services are obtained under each system. It discusses traditional economies, command economies, and market economies. The US system is characterized as a mixed economy with private ownership of resources but some government regulation. Key aspects of capitalism like profit, competition, and how they keep prices low and drive innovation are explained. Different types of businesses - sole proprietorships, partnerships, and corporations - are defined. Factors of production like natural resources, capital, labor, and their importance for business decisions are covered. Metrics for assessing the economy like GDP, economic indicators, and the business cycle are also summarized.