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Becoming Modern
                1865 - 1900ish
Four MAJOR technological advancements made this possible

oil                                      steel
railroad                              telegraph
steel

  The Bessemer Process:
  method of turning iron into steel


                       stronger than iron
steel

  The Bessemer Process:
  method of turning iron into steel


                       stronger than iron
                       • larger buildings
steel

  The Bessemer Process:
  method of turning iron into steel


                       stronger than iron
                       • larger buildings
                       • bridges
                       • railroads
railroad


  Growth of R.R. = Growth of Industry
 • jobs laying track/making RR cars, etc.
 • faster, cheaper way to move people & goods
 • promotes urban growth (ppl live in cities)
oil


  • new businesses (refineries to purify)
  • kerosene lamps
  • helps machines run smoothly
  • internal combustion engine
Advancements in communication & technology

        telegraph


                         telephone


      electric lights
The idea of “small business” is over
            1 owner/partners     high risk

      business begin to “incorporate”
                    many owners        low risk



the goal becomes to make as much
MONEY as possible $$$$$$$$$$$$$
Generate a list of pros and cons for the
profit motive. How is it good and how is it
bad?
How does proximity affect
our decisions/reactions to
things?
Predict one positive and one negative of
this change is business structure
1) BIG - provide your goods/services to as
         many people as possible
2) CHEAP - the less it costs you to produce
           the more profit you make
3) FAST - the more items you make, the
         more you can sell
4) QUALITY - ???
Capitalism
 Allows privately owned business where people
 compete for economic gain.

         Achieve your goal by any means


Relies on the free market to determine the price of goods and services



The public chooses based on their interests. No Gov’t interference


                                                                Laissez Faire - means
                                                                “hands off”
What is the ultimate goal of competition?

            TO WIN!



(eliminate the competition)
Monopoly
1 business eliminates ALL the
competition      NO CHOICES



            = owners

            = everyone else

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Becoming Modern

  • 1.
  • 2. Becoming Modern 1865 - 1900ish Four MAJOR technological advancements made this possible oil steel railroad telegraph
  • 3. steel The Bessemer Process: method of turning iron into steel stronger than iron
  • 4.
  • 5.
  • 6. steel The Bessemer Process: method of turning iron into steel stronger than iron • larger buildings
  • 7.
  • 8.
  • 9. steel The Bessemer Process: method of turning iron into steel stronger than iron • larger buildings • bridges • railroads
  • 10.
  • 11. railroad Growth of R.R. = Growth of Industry • jobs laying track/making RR cars, etc. • faster, cheaper way to move people & goods • promotes urban growth (ppl live in cities)
  • 12.
  • 13.
  • 14.
  • 15.
  • 16. oil • new businesses (refineries to purify) • kerosene lamps • helps machines run smoothly • internal combustion engine
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22. Advancements in communication & technology telegraph telephone electric lights
  • 23. The idea of “small business” is over 1 owner/partners high risk business begin to “incorporate” many owners low risk the goal becomes to make as much MONEY as possible $$$$$$$$$$$$$
  • 24. Generate a list of pros and cons for the profit motive. How is it good and how is it bad?
  • 25. How does proximity affect our decisions/reactions to things?
  • 26. Predict one positive and one negative of this change is business structure
  • 27. 1) BIG - provide your goods/services to as many people as possible 2) CHEAP - the less it costs you to produce the more profit you make 3) FAST - the more items you make, the more you can sell 4) QUALITY - ???
  • 28. Capitalism Allows privately owned business where people compete for economic gain. Achieve your goal by any means Relies on the free market to determine the price of goods and services The public chooses based on their interests. No Gov’t interference Laissez Faire - means “hands off”
  • 29. What is the ultimate goal of competition? TO WIN! (eliminate the competition)
  • 30. Monopoly 1 business eliminates ALL the competition NO CHOICES = owners = everyone else