1. Capitalism and Changing Production Methods

2. Capitalism
Individuals or corporations control the factors of production
Commercial capitalism: merchants who bought and sold goods

3. Capitalism
Industrial capitalism: capitalists being involved in producing and manufacturing goods

4. Division of labor
Factory workers divided the manufacturing process into steps
Increased production

5. Interchangeable parts
Started by Eli Whitney
Faster production
Inexpensive and more easy to repair

6. Interchangeable parts

7. The Assembly line
Mass production: System of producing large numbers of identical items
All parts were brought together at a single location, parts were carried from worker to worker

8. The Assembly line Each worker performed a certain task
Saved time and energy

9. The assembly line Henry Ford made this popular
Used a conveyor belt to carry automobile frames from worker to worker
Founded one of the largest industries in the world