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The Global Marketing Environment, and pay close attention to the main types of economic systems and the stages of market development. The economic environment is a major determinant of global market potential and opportunity. A country’s economic environment has a bearing on how a business will function. Global companies depend on the economic environment for inputs and to sell their finished goods. Keegan and Green (2017) state that “traditionally, economists identified four main types of economic systems: market capitalism, centrally planned socialism, centrally planned capitalism, and market socialism” (p. 43).

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