Intro to business
⟶ Updated 10 months ago ⟶
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Between 1960 and 1990 food production increased by 1000% , famine decreased by 20%, and caloric consumption increased by 25%; due to the Green Revolution which offered the idea of using genetics to develop new kinds of grains.
On March 25, 1911, a fire at the Triangle Shirtwaist Factory Company in New York City killed 146 workers, mostly young female immigrants. This brought about changes in the law regarding sweatshops.
On June 30th, 1906 the FDA was created with the passage of the pure foods and drug act, and is responsible for protecting consumers from unsafe food and drugs made by businesses.
The equal pay act was passed in 1964 which requires that men and women are paid same for equal work.
Americans with disabilities Act passed in 1990 which prohibits discrimination against people with disabilities.
In 1970 the Environmental Protection Agency was created, it is responsible for implementation of federal laws designed to protect the environment.
In 2002 the Sarbanes-Oxley act was passed, which established sweeping auditing and financial regulations for public companies.
The federal reserve was created in 1913, it is the central bank of the U.S It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.
On February 2nd, 1913, the 16th amendment is ratified. Which allows Congress to tax income.
The Banking Act of 1935 made the FDIC a permenant agency of the government.
After the great depression the Emergency Banking Act of 1933 was passed to prevent massive withdrawals from banks.
The Great Depression began after the crash of the U.S stock Market . It lasted from 1929 to 1939, employment rose to 25% and homelessness increased.
In the 1600s the U.S had a service based economy, which focused on the bartering and trading of goods and services.
In the 1700s the U.S had an agriculture based economy. In which farming was the most common way of life.
In the 1850s the industrial revolution began, where citizens beganto rely on big machines to mass produce goods.
In the 1900s The U.S transitioned into an information based economy, with the invention of the computer computers transformed the way goods and services are produced and sold. This is the present Economy we live in.
Sherman Antitrust Act of 1890 regulates competition between companies and prevents monopolies from forming.
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