Business: The Different Stages Of The Industrial Revolution

The Industrial Revolution Business has gone through several different stages of evolution from feudalism to the industrial revolution. In the following, each stage of business evolution will be examined and explained in detail.

FeudalismThe business or economic system in which one class of people, aristocrats, control the property rights to all valuable resources, including people.

The Hierarchy of English Aristocrats is indicated to the right of the description of Feudalism. The position in which an individual held was determined by the income they generated. The more income you made, the higher position you held in the hierarchy. The kings and Queens were the highest in rank who controlled everyone and everything that happens in their land.
During the time of the stone age, there was a chief who had authority over everyone. There were hunters who hunted wild animals for food to distribute to the tribe or clan. The food gatherers would gather and clean all the food the hunters would bring in. Craftspeople would make clothes and weapons out of the hides and bones of the animals hunted. The priests, shamans, and sages were responsible for providing "protection" and religious hope.

MERCANTILISMBusiness or economic system in which merchants and bankers organize the trade of products across markets and countries until they are put to their most valued use.

Mercantilism existed back in Egyptian times also. It was a huge part of Egypt and it 's economic existence. There was some papyrus records found that described boundless quantities of grain and olive oil being stored in warehouses that extended over several fields in Alexandria, Egypt. These warehouses were meant for sale abroad. In the time of the Ptolemy dynasty, mercantilism was a godsend. This king of Egypt owed Alexander the Great an abundant amount of money for Egypt being a free country. Along with gold, King Ptolemy would send fields of grain as payment for their freedom.

The price of TeaMerchants then and now still make huge amounts of profit by taking advantage of differences in the prices of products in different
Capital: Ownership of the rights to financial assets such as stock, bonds, and money.

Enterprise: Ownership of the rights to the products of enterprise such as patents and copyrights to products.

Labor: Ownership of the rights to ones own labor and the right to work freely.

THE INDUSTRIAL REVOLUTIONThe Industrial Revolution was an era in the 1700 and 1800 's that marked improved production and trade brought about by advances in technology.

The Industrial Revolution was a period in which fundamental changes occurred in agriculture, textile and metal manufacture, transportation, economic policies and the social structure in England. It spread through Europe and the United States. This period is appropriately labeled "revolution" for its thoroughly destroyed the old manner of doing things.

Advances in agricultural techniques and practices resulted in an increased supply of food and raw materials, changes in industrial organization and new technology which cased an increase in production, efficiency and profits, and the increase of commerce, foreign and domestic, were all conditions which promoted the advent of the Industrial