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Period: to
External Business Factors Portfolio
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The Industrial Revolution
This era sparked a change in manufacturing processes for the better. Rather than simply doing things manually by hand, Americans were now beginning to use machines to get their work done. Business is better today because we outsource to other countries that can do the same work and labor for much less than what it would cost if we did so here in America. Technology has also increased greatly so that thousands of products can be manufactured at a time. -
The Entrepreneurial Era
The late nineteenth century saw the concept of Laissez-Faire reach full affect. This was the idea that governments would not infefere in dealings of the economy. People were encouraged to follow a "free market" economy, and this still exists today. Entrepreneurs still try to run their business without too much inteference from the government. Additionally, banks were made seperate from Europe.
