evolution of business
TRANSCRIPT
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EVOLUTION OF BUSINESS
Marcia Van wormerBus210August 3, 2014 Fontano
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FEUDALISM• Middle Ages• Division of work• Hierarchy• Leading into property rights
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MERCANTILISM• Business system controlled by banks and merchants• Recognize profit• Scarce higher demand• The use of capital for trade
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CAPITALISM• Business system controlled by industrialists or capitalists • Economic, business, political system• Control product prices• High demand on labor low wages
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COMMERCE• An exchange of goods• Can be goods or services• Usually between different areas• Involving bartering or money
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PROPERTY RIGHTS• Powerful person owning land• Use of land by lower people• Labor• Today stocks, patents, copyrights
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THE INDUSTRIAL REVOLUTION • Began with steam engine• 19th, 20th century• Large factories• Coal mining
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INDUSTRIAL REVOLUTION• Affected farming and manufacturing• Increased wealth or profit• Left aristocrats and craftsman obsolete • Made room for new monopolies
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CONCLUSION• Happened over time • Different business styles• Involves goods and services• Creates profit
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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/