Economic systems determine resource distribution. Traditional systems value heritage, while command systems involve heavy government control. Market economies rely on demand and supply, and mixed economies, like the Maldives, combine private enterprise with state intervention and strategic economic policy.

Production converts inputs into valuable outputs using capital-intensive or labour-intensive methods. Businesses utilize job, batch, or flow processes across primary, secondary, and tertiary sectors. Efficient division of labour increases productivity, though output may eventually face the law of diminishing returns.

Promotion generates awareness and loyalty through strategies like advertising. The five-step advertising process involves setting objectives, deciding budgets, creating campaigns, selecting media, and evaluating effectiveness. This ensures products reach the target audience and persuade them to make a purchase.