evolution of business
TRANSCRIPT
EVOLUTION OF BUSINESS
Marcia Van wormerBus210August 3, 2014 Fontano
FEUDALISM• Middle Ages• Division of work• Hierarchy• Leading into property rights
MERCANTILISM• Business system controlled by banks and merchants• Recognize profit• Scarce higher demand• The use of capital for trade
CAPITALISM• Business system controlled by industrialists or capitalists • Economic, business, political system• Control product prices• High demand on labor low wages
COMMERCE• An exchange of goods• Can be goods or services• Usually between different areas• Involving bartering or money
PROPERTY RIGHTS• Powerful person owning land• Use of land by lower people• Labor• Today stocks, patents, copyrights
THE INDUSTRIAL REVOLUTION • Began with steam engine• 19th, 20th century• Large factories• Coal mining
INDUSTRIAL REVOLUTION• Affected farming and manufacturing• Increased wealth or profit• Left aristocrats and craftsman obsolete • Made room for new monopolies
CONCLUSION• Happened over time • Different business styles• Involves goods and services• Creates profit
REFERENCES• Gareth R. Jones. (2007). Introduction to Business. Retrieved from
Gareth R. Jones, BUS/210 website.• Microsoft Power Point (6.3.9600) [Computer Software]. Retrieved from
http://microsoft.com• The 4th Media . (2014). Retrieved from
http://www.4thmedia.org/2014/05/multiple-ways-kleptocrats-and-militarists-fleece-americans/