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New Methods
and Business
By: Jared Thompson, Alexis
Terronez, Jordan Bryson, &
Madi Burton
Rise of the Corporation…
A business that is owned by one person is called a sole
Two or more people is a partnership.
All Businesses were required to remain small during
this time.
A stockholder’s financial responsibility is limited to how
much they have invested in certain areas.
The 1800s was when large corporations began to form.
V.P Morgan was one of the first to create one of these
strong, powerful companies. (US Steel company)
Corporation Continued…
 The size of the corporations does not mean large profits.
 Sometimes producing more products than they could
 1800s to 1900s corporations in US grew to monopolies or
 Businesses like coal and iron mines, steel mills, and factories
are known as cartels.
Business Cycles…
The Industrial Revolution brought alternating periods of
prosperity and decline which is a pattern that’s call
business cycle.
In order to do something good you have to sacrifice
something bad then eventually it all becomes bad and
cause depression but eventually it comes back to good
and repeats the cycle.
Economic Theories…
Physiocrats attacked mercantilism and felt it would
bring disaster to the economy.
Scottish economist, Adam Smith, he accepted the
ideas of the Physiocrats. He is also considered the
founder of classical economics.
Smith thought that there were two natural laws that
controlled the economy…
Law of Supply and Demand
Law of Competition
Theories Continued…
Smith had two main supporters…
Thomas Malthus
David Ricardo
He came up with the Principal of Population.
He came up with the Iron Law of Wages.
These thoughts of economics, like Smith and his supporters
didn’t want the government to mess with their businesses,
operations, and ideas. Came up with the phrase, “laissezfaire”
Capitalism and Changing
Start of the individual business
Capitalism is an economic system where individuals or
corporations, are in control, instead of the government.
Capitalism in production is privately owned or ran.
As factories progressed they divided manufacturing into
a step by step process.
They would hire unskilled and less experienced people
to do one single task or step.
Capitalism Continued…
This kind of division of labor increased production.
Eventually the idea of interchangeable parts was
adopted and accepted.
With this idea things could now be assembly in one
Henry Ford introduces the assembly line.
Soon after the conveyor belt was introduced.
Question Time?!?!?
True or False…
A business that is owned by two or more people is a proprietorship.
Vocab Definition…
Describe the business cycle.
Multiple Choice…
What does “laissez-faire”?
Let’s go to Arby’s
Kill the King!
Leave things alone
Let’s attack the government
Fill in the Blank…
___________ is an economic system where individuals or corporations
have power instead of government.