1.  Read through the PowerPoint slides for today in the Webdesign “W” drive  Use a blank computer paper to create a timeline to help you remember this information for the chapter 1 quiz 1

2. Barter System 1 2 Goods and services are directly exchanged. © DIANA TALLIUN/SHUTTERSTOCK © AFRICA STUDIO/SHUTTERSTOCK

3. 1 3 Domestic System Entrepreneur distributes raw materials to homes. Families process materials into a finished good. Entrepreneur sells finished goods. © MEXRIX/SHUTTERSTOCK © LOSEVSKY PHOTO AND VIDEO/SHUTTERSTOCK© NOPPHARAT/SHUTTERSTOCK

4. 1 4 Factory System All the materials, machinery, and workers required to manufacture a product are assembled in one place.

5. 1 5 Specialization The separation of a manufacturing process into distinct tasks and the assignment of the different tasks to different individuals

6.  Rapid growth of industries  1929 Stock Market Crash  Government intervention was necessary to get the economy moving again. 1 6 © DENIS BARBULAT/SHUTTERSTOCK © STEVE BROER/SHUTTERSTOCK

7.  Prosperity and higher standards of living in the 1950s and 1960s  Oil shortages and higher prices in the 1980s 1 7 © CHRISTOPHER ELWELL/SHUTTERSTOCK © PATRICIA MARROQUIN/SHUTTERSTOCK © JAMES STEIDL/SHUTTERSTOCK © RETROCLIPART/SHUTTERSTOCK

8. 1 8 The organized effort of individuals to produce and sell through the Internet, for a profit, products and services that satisfy society’s needs e-Business

9. 1 9 Technology becomes more affordable. A New Century: 2000 and Beyond Growth of the service economy - economy in which more effort is devoted to the production of services than to the production of goods

10. 1 10 Source: Manufacturing Productivity and the Shifting US, China, and Global Scenes- 1990 to 2005, William A. Ward, Clemson University Center for International Trade Working Paper 052507; Bureau of Labor Statistics, http://www.bls.gov/news.release/ecopro.toc.htm

11. 1 11 Job Title20082018 (Projected) Percent Change Biomedical engineers 16,00027,000+72.0% Network & data communication systems analysts 292,000448,000+53.3% Home health aides 922,0001,383,000+50.0% Personal and home care aides 817,0001,193,000+46.0% Financial examiners 27,00038,000+42.0% Physician assistants 74,000104,000+38.0% Athletic trainers 16,00022,000+37.0% Physical therapist aides 46,00063,000+36.0% Dental hygienists 174,000237,000+36.0% Source: Bureau of Labor Statistics, www.bls.gov/emp/emptab21.htm, accessed October 1, 2010.www.bls.gov/emp/emptab21.htm