EVOLUTION OF BUSINESS

EVOLUTION OF BUSINESS - and reinvestment of profits gained...

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Click to edit Master subtitle style 9/22/11 EVOLUTION OF BUSINESS BY JASMYNE CARSON
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9/22/11 FEUDALISM Definition: A political and economic system of Europe from the 9th to about the 15th century based on the holding of all land in fief or fee and the resulting relation of lord to vassal and characterized by homage, legal, and military service of tenant and forfeiture.
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9/22/11 MERCANTILISM Definition: the theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
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9/22/11 CAPITALISM Definition: An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation
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Unformatted text preview: and reinvestment of profits gained in a free market 9/22/11 Images of capitalism 9/22/11 COMMERCE • DEFINITION: The buying and selling of goods, especially on a large scale, as between cities or nations. 9/22/11 Images of commerce 9/22/11 PROPERTY RIGHTS • Definition: Rights to the ownership and stewardship of, and profits from, land, capital, and other goods. Extensive property rights of private individuals in most goods is a basic element of the capitalist system. 9/22/11 Image of property rights 9/22/11 THE INDUSTRIAL REVOLUTION • Definition: The complex of radical socioeconomic changes, such as the ones that took place in England in the late 18th century, that are brought about when extensive mechanization of production systems result in a shift from home-based hand manufacturing to large-scale factory production. 9/22/11 Image of industrial revolution...
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This note was uploaded on 09/22/2011 for the course ALL all taught by Professor All during the Spring '10 term at University of Phoenix.

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EVOLUTION OF BUSINESS - and reinvestment of profits gained...

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