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Word Count: 1,570
The United States became a large subject to influence and change during the period of 1870 to 1900 This period was mainly governed by the rise of monopolies and its affects Through the ideals represented by monopolies a force broke into American society that negatively changed her business structure and the way that companies were run through the late nineteenth century America was supported with an economic system that went by the name of capitalism Capitalism is An economic system characterized by freedom of the market with private and corporate ownership of the means of production and distribution that are operated for profit This system let businesses run their own show They had the freedom to grow at their own will and over take all businesses in the way Such businesses began to sprout under this system New industries began and supplies began to flourish Due to the amount of supplies that were available to the customer competition began This competition brought about by the demand of supplies created the theory of supply and demand Supply was the amount that the companies agreed to sell at an arranged price Demand was the amount of customers willing to pay the specific price for the product According to this theory if supplies rose above demand then companies are forced to lower their prices to attract sales On the other hand if demand exceeds supply then sellers raise prices because the customers will be willing to pay the prices This new concept affected the customer greatly The prices he had to pay were dictated buy the amounts of customers there were interested in the product Companies needed business so they responded well to supply and demand In order to attract the customer these companies had to present him with the better product for the lower price Industries were at constant battle for their customers profit Solutions for new more efficient systems of production were being thought of
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