Evolution Of Business

Evolution of commerce:

1.Diversity of human wants.

2.Scarcity of natural resources.

3.Diversity of natural resources.

4.Division of labor.

Various Stages Of Evolution Of Commerce:

1.Hunting and Fishing.

2.Pastoral Stage.

3.Agricultural Stage.

4.Handicraft Stage.

(a)Absence of double coincidence of wants.

(b)Lack of common measure of value.

(c)Difficulty of sub-division.

(d)Difficulty of staring wealth.

5.Money Economy Stage.

6.Domestic Stage..

7.Town Economy Stage.

8.National Economy Stage.

9.Period of Geographical Discoveries.

10.Industrial Revolution and Transport Development.

                                            Evolution of Industry

The various stages in the evolution of modern industry can be studied under three heads, they are:

Industry in the Pre-Industry Revolution era:

1.Hunting and Fishing Stage.

2.Pastoral Stage.

3.Agricultural Stage.

4.Handicraft Stage.

5.Guild Stage.

6.Domestic System.

II Industry During The Period Of Industrial Revolution:

1.Developments of engineering.

2.Revolution in iron-making.

3.Use of Steam Power.

4.Rise of chemical industries.

5.Development of coal mining.

6.Revolution in transport.

                                      Objectives Of Business

Economic  Objectives:

1.Earning of Adequate profile.

2.Creation of Customers.

3.Optimum Resources.

4.Innovation.

Social Objectives:

1.Supply of goods which the society wants.

2.Avoidance of profiteering and anti-social practices.

3.Production according to national priorities.

4.Providing employment.