HISTORY OF BUSINESS.

AGRICULTURE ECONOMY:

• Farmers used economics for crops and cattle.
• Focused on maximizing the crop yield while mainting a good soil economy.
• First introduced in the late 19th century.
• Developed more in the twentieth century as the economy got bigger.
• Still a huge part of our country.

INDUSTRIAL REVOLUTION:

• The Industrial Revolution was the transition to new manufacturing processes in the period from about 1820-1860
• This improved the efficiency of water power.
• Many more tools were introduced like the steam engine, which sped up the revolution.
• Introduced wood and bio-fuels to coal.
• Many of the inventions that we have today are because of the industrial revolution.

SERVICE ECONOMY:

• It provides people to do many things that some people dont want to do.
• The fast food industry provides service to many people around the world.
• For example IBM treats its business as a service business.
• The service economy is a part of capitalism.
• Truck driving is a huge part of the service industry because they transport goods

INFORMATION ECONOMY:

• The collection of information.
• Many countries make very good money by the information economy.
• Germany and Japan are one of the leaders in the worlds manufacturing process.

THE FUTURE:

• There will be many new inventions and business in the future.
• All of the businesses that we have today will expand slowly while new business will expand fast.

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