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Cottage/Barter Industry
Individual/family had excess goods which they traded/sold to others. -
Industrial Revolution
Machinery became a major part of the process of producing materials and goods. -
Free Market Economy
This is when businesses were being run with different government supervision. But increased regulation/employee protection. (unions) -
Production Era
The Assembly line became the standard of efficiency and is still a vital link to profit in many companies today. -
The Marketing Era
Marketing became the method by which new customers were introduced to products in an appealing fashion to increase sales. It also began the credit method of selling products. -
The Global Era
As transportation and communication became more efficient globally goods from one country were more readily available to other countries. This created different types of problems due to different wages worldwide. -
The Information Era
Technology has increased to the point where communications, financial transactions, and other activities are instantaneous due to the use of the technology globally. This is creating an increased market with associated increased issues.