The Evolution of Business
The Evolution of
Business
Presented by Team B
December 15,2014
Overview of Business Evolution
Feudalism
Mercantilism
Capitalism
Commerce
Property
The
rights
Industrial Revolution
Feudalism
Middle age (A.D. 500-1500)
The king had complete control.
To make their estates more profitable landowners assigned the most able workers to take control of specific farms on their estates.
System of tenant farming was developed.
Mercantilism
Products are traded across markets and countries.
Merchants are traders who notice a difference between the value and price of a product in one market and its value and price in another. They recognize an opportunity to profit from the price difference.
Bankers are the people who estimate the risks associated with a new venture and determine the way profits from a venture should be shared
Capitalism
Capitalists are people who personally own and/or control the physical capital of industrial production.
Capitalists and factory owners began to take advantage of their economic power by putting greater demands on labor. The average worker’s wage fell rapidly, and workers were forced to work longer hours. These people were called proletariats.
Trade union and class systems were developed.
Class System of Capitalism
Commerce
Barter to money
Money to capital
Sales and purchases
Property Rights
Land- ownership to the rights of land the building and structures on it.
Labor- Ownership to the rights of ones own labor and to labor freely.
Enterprise- Ownership to the rights of products of enterprise such as patents and copyright to products.
Capital- Ownership to the rights fanatical assets such as stock and money. The Industrial Revolution
Started in the late 18th century.
The beginning of the steam engine was a important event during this time.
Development of coal mining.
Came to the U.S in the 1900’s.
Shifted production and trade.
Business
Presented by Team B
December 15,2014
Overview of Business Evolution
Feudalism
Mercantilism
Capitalism
Commerce
Property
The
rights
Industrial Revolution
Feudalism
Middle age (A.D. 500-1500)
The king had complete control.
To make their estates more profitable landowners assigned the most able workers to take control of specific farms on their estates.
System of tenant farming was developed.
Mercantilism
Products are traded across markets and countries.
Merchants are traders who notice a difference between the value and price of a product in one market and its value and price in another. They recognize an opportunity to profit from the price difference.
Bankers are the people who estimate the risks associated with a new venture and determine the way profits from a venture should be shared
Capitalism
Capitalists are people who personally own and/or control the physical capital of industrial production.
Capitalists and factory owners began to take advantage of their economic power by putting greater demands on labor. The average worker’s wage fell rapidly, and workers were forced to work longer hours. These people were called proletariats.
Trade union and class systems were developed.
Class System of Capitalism
Commerce
Barter to money
Money to capital
Sales and purchases
Property Rights
Land- ownership to the rights of land the building and structures on it.
Labor- Ownership to the rights of ones own labor and to labor freely.
Enterprise- Ownership to the rights of products of enterprise such as patents and copyright to products.
Capital- Ownership to the rights fanatical assets such as stock and money. The Industrial Revolution
Started in the late 18th century.
The beginning of the steam engine was a important event during this time.
Development of coal mining.
Came to the U.S in the 1900’s.
Shifted production and trade.