Evolution of Business

Elka Sanders

Barter Trade System

Feudalism

The Mercantilis Industrial m

Revolution

Capitalism

Propert y Rights & Comme rce

Still practiced in modernized ways

Has existed since Ancient Years

Most Conventional form of trade

. One class of people completely control property rights of all valuable resources and assets.

Majority at the bottom working to benefit a minority at the top

Political organization controlled at the top by the King and the Lords appointed by them. Lords will exploit lands and peasants to obtain affluence imposing hard work and taxation. Merchants and workers had to unite. Unsuccessful kings and lack of funds opened the opportunity for the Magna Carta to evolve.

.
success of a nation depends on its capital supply wealth measured in terms of gold and silver. the goal required favorable balance of trade Mercantilism ideals are to lower imports and increase exports

Developed Factories

.
Scientific Revolution

Industrialization

Urbanization

Many industrial developments

CHILD LABOR

UPPER CLASS
UPPER MIDDLE CASS LOWER MIDDLE CLASS

Financial markets are born Clothing, steel, coal, and printing

Ended feudalism

WORKING CLASS OF PROLETARIAT

Social system that recognize individual rights. Private Property recognize. Separation of State and Business. System of laissez faire. Freedom to create wealth and opportunities

Ownership Protected

Rights protected by the Government

Rule of Law over the Rule of Men

Patents for Mechanical Improvements

Buy and sell at higher levels.

High

technolo gy use.

Trade goods of economic value.

Modernizatio n and Globalization .

Maximization of profits offering products and services at the lowest production-cost

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