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Entrepreneurs",9,[30,190,332,546,743,893,1016,1204,1331,1450],{"id":31,"data":32,"type":28,"maxContentLevel":21,"version":26,"orbs":35},"b018ba2b-527f-4443-8026-87ccf0bc87e2",{"type":28,"title":33,"tagline":34},"Overview of Entrepreneurs ","What is an entrepreneur? Where entrepreneurship started and how it affects the world around us.",[36,93,155],{"id":37,"data":38,"type":26,"version":26,"maxContentLevel":21,"pages":40},"6d8f8594-05a8-4675-9553-3d8f364fc250",{"type":26,"title":39},"The Vision of Ray Kroc",[41,60,75],{"id":42,"data":43,"type":25,"maxContentLevel":21,"version":26,"reviews":47},"bc136a02-0e20-4b36-87b1-4abc6984b437",{"type":25,"title":44,"markdownContent":45,"audioMediaId":46},"It starts with a vision","With over 38,000 locations in over 100 countries, McDonald’s is the largest fast food chain in the world. If you look into how McDonald’s became so successful, the name that comes up time and time again is that of Ray Kroc.\n\n![Graph](image://741a3f10-913b-4992-85bf-dd5fc5334304 \"Ray Kroc\")\n\nRay Kroc, an American businessman, was credited with the success and expansion of McDonald’s. However, did you know that he wasn’t actually the founder? In fact, Kroc purchased the fast food company in 1961, 21 years after it was founded by Dick and Mac McDonald.\n\nRay Kroc’s involvement in McDonald’s is significant in that it displays the difference between someone who starts or owns a business and someone with an ‘entrepreneurial spirit.'\n\n![Graph](image://236d5bd6-fae1-4992-aed8-f92d838aa38c \"The world's oldest McDonald's. Image: Miosotis Jade, CC BY-SA 4.0, via Wikimedia Commons\")\n\nWhile the McDonald brothers didn’t want to expand their restaurant across the country, Kroc saw an opportunity for profiting off the franchises. He used the immaculate design of one store to convince others to buy a franchise, gaining a percentage of the profit from each location.\n\nThe majority of entrepreneurs will fail at some point in their lifetime. The best entrepreneurs understand this, but are still willing to take the risk.","23eaf364-843a-418a-a923-76e4efa892c5",[48],{"id":49,"data":50,"type":51,"version":25,"maxContentLevel":21},"e9dc134f-135b-4cda-98fd-cea195380049",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":52,"multiChoiceCorrect":54,"multiChoiceIncorrect":56},11,[53],"Who purchased McDonald's in 1961, 21 years after it was founded?",[55],"Ray Kroc",[57,58,59],"Dick McDonald","Mac McDonald","Bill Gates",{"id":61,"data":62,"type":25,"maxContentLevel":21,"version":26,"reviews":66},"4dea65dd-acba-4fc3-a076-117fe9f59b8f",{"type":25,"title":63,"markdownContent":64,"audioMediaId":65},"What is an entrepreneur?","Entrepreneurs have impacted the world and the economy for thousands of years. Without them, we wouldn’t have lightbulbs or iPhones. In modern day, it’s likely you either know an entrepreneur or are one yourself. But did you know the first entrepreneurs existed even before the invention of money? Although entrepreneurs are a common topic in society today, their history is not as well known.\n\n![Graph](image://6fe346bf-9ccb-47cc-a5eb-abcdf76170c1 \"Thomas Edison, inventor of the lightbulb\")\n\nAn entrepreneur is someone who starts or operates their own business. When one or more entrepreneurs create a new business, it’s often called a ‘start-up,’ which refers to a business in its early stages. Additionally, the process of starting one's own business is called ‘entrepreneurship.’\n\nAs many workplaces continue shifting towards remote and hybrid work, and employees are realizing the constraints of a typical 9-5 work day, entrepreneurship has become a desired career path for many. With the advance in technology, the prospect of becoming an entrepreneur is more attainable than at any other time in history.","4a8b61a2-5594-4ce3-9a2d-2bc62a55e738",[67],{"id":68,"data":69,"type":51,"version":25,"maxContentLevel":21},"f67face6-ab2d-4d80-9b5c-47807fc31025",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":71,"clozeWords":73},4,[72],"A 'start-up' is a business in its early stages.",[74],"start-up",{"id":76,"data":77,"type":25,"maxContentLevel":21,"version":26,"reviews":81},"8212b7da-cc3e-44d7-bfab-9b7895d05455",{"type":25,"title":78,"markdownContent":79,"audioMediaId":80},"The first entrepreneurs","Believe it or not, entrepreneurship is not a new concept. Even though it has grown significantly in the past 50 years, the history of entrepreneurs goes back farther than most people realize. In fact, the first entrepreneurs were traders and merchants and lived nearly 20,000 years ago.\n\n![Graph](image://adeb3063-bdda-4601-ac08-641bc39840de \"A 19th-century market in Paris\")\n\nAround 17,000 BCE, before people began starting businesses to make money, they traded valuable goods to benefit their families and communities. These entrepreneurs were bartering before money was even invented. But, despite these differences, what they had in common with many entrepreneurs today is how they worked to improve the quality of life for their community.\n\nOver the years, the role of entrepreneurs has changed and grown significantly. As inventions and innovations came to be viewed in a more positive light, the work of entrepreneurs began to be celebrated throughout the world.","ca854bb6-a2d9-4cac-a792-178a69b75d0d",[82],{"id":83,"data":84,"type":51,"version":25,"maxContentLevel":21},"f892ac02-1b12-4b23-970a-404b5aa9839e",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":85,"multiChoiceCorrect":87,"multiChoiceIncorrect":89},[86],"When did the first entrepreneurs begin trading valuable goods to benefit their families and communities?",[88],"17,000 BCE",[90,91,92],"20,000 BCE","10,000 BCE","5,000 BCE",{"id":94,"data":95,"type":26,"version":25,"maxContentLevel":21,"pages":97},"61f2e3f7-644c-4b3f-8ae5-f112dfa43c2c",{"type":26,"title":96},"The Economic Impact of Entrepreneurs",[98,116,140],{"id":99,"data":100,"type":25,"maxContentLevel":21,"version":25,"reviews":104},"53f42c26-7674-40e3-acdd-78a2fc41d451",{"type":25,"title":101,"markdownContent":102,"audioMediaId":103},"How entrepreneurs affect the economy","Entrepreneurs play multifaceted roles that go beyond the foundational aspects of producing and selling products. Their activities often align with evolving market trends and emerging demands. A salient example is the Digital Revolution, which began in the late twentieth century, marking a notable transition from mechanical to digital technology.\n\nBy the 2000s, over half the world's population had access to the internet, reflecting its rapid assimilation into daily operations and activities of businesses and individuals.\n\nThis digital evolution was facilitated by key figures in the entrepreneurial world. For instance, Marc Andreessen, a co-author of Mosaic, played a pivotal role. Mosaic is credited as the browser that popularized the World Wide Web in the early 1990s.\n\n ![Graph](image://853d23e1-f08b-4aeb-8bef-c85ce6c0fa42 \"Marc Andreessen, one of the web's first entrepreneurs. Image: JD Lasica, CC BY 2.0, via Wikimedia Commons\")\n\nFurthermore, the World Bank data suggests that small and medium-sized enterprises (SMEs) contribute up to 60% of total employment in emerging economies. Such enterprises often \ninject innovation into the market. For instance, in 2019, global venture capital investments reached a staggering $294 billion, reflecting the importance of entrepreneurial innovation.\n\nSuch innovations contribute to societal progress, economic expansion, the creation of new sectors, and enhancements in existing products and domains.","0134e1f5-e715-437f-839d-faf75c01c28c",[105],{"id":106,"data":107,"type":51,"version":25,"maxContentLevel":21},"d08f29ef-4c79-4e0a-9a24-b6f2101181e5",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":108,"multiChoiceCorrect":110,"multiChoiceIncorrect":112},[109],"What is the definition of an \"SME\", which contribute up to 60% of total employment in emerging economies?",[111],"Small and medium-sized enterprises",[113,114,115],"Sustainable market entities","Strategic monetary enterprises","Small monetary establishments",{"id":117,"data":118,"type":25,"maxContentLevel":21,"version":25,"reviews":122},"c3723598-6a69-4f32-a499-aa3b1e437a3e",{"type":25,"title":119,"markdownContent":120,"audioMediaId":121},"Where did the word entrepreneur come from?","\nYou might be wondering where the word entrepreneur came from. Even though the first entrepreneurs were traders and merchants thousands of years ago, they weren't recognized as such at the time.\n\n ![Graph](image://d8c42dcc-a3c7-425c-bf03-e0c699efa404 \"John Stuart Mill\")\n\nThe word first appeared in the French dictionary in 1723. Entrepreneur comes from the French word entreprendre, which means ‘to do something or undertake.’ The word was first used academically in the 1700s to describe someone who undertakes the financial risk of a business venture.\n\nEconomists Jean-Baptist Say and John Stuart Mill both used the term, entrepreneur, in the early 1800s. In his 1848 book, Principles of Political Economy, economist John Stuart Mill used the word to refer to someone who takes on both the risk and management of a business.","0ea98ccb-c342-499f-96d3-6011a8daab31",[123,132],{"id":124,"data":125,"type":51,"version":25,"maxContentLevel":21},"2844ed5f-a616-4eb5-b4d3-4367c8782966",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":126,"binaryCorrect":128,"binaryIncorrect":130},[127],"When was the word entrepreneur first used academically?",[129],"1700s",[131],"1500s",{"id":133,"data":134,"type":51,"version":25,"maxContentLevel":21},"6a7e86e5-67e3-412d-b91a-9f95fcbe0131",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":135,"clozeWords":137},[136],"The word entrepreneur first appeared in the French dictionary in 1723 and was used academically by Jean-Baptiste Say.",[138,139],"1723","Jean-Baptiste Say",{"id":141,"data":142,"type":25,"maxContentLevel":21,"version":25,"reviews":146},"87b8c404-f702-45f7-a3cd-13de786d01c5",{"type":25,"title":143,"markdownContent":144,"audioMediaId":145},"What has influenced the role of entrepreneurs?","\nConsidering the first known entrepreneurs were traders and merchants, many things have changed since the first evidence of entrepreneurship. While we talk about how things have changed over thousands of years, the reality is that some of the most drastic changes occurred over the past hundred years.\n\n ![Graph](image://67af529e-d71a-4dde-b9fc-165a2d9d0896 \"Mobile connectivity has been one of the biggest technical revolutions of the 21st century so far\")\n\nA big part of these drastic changes is the increased development and use of technology. In fact, at least 3 technology revolutions have occurred just since the early 2000s. \n\nThese include the rise of broadband connections, mobile connectivity, and the rise of social media. With the growth of technology, more opportunities were available for entrepreneurs than ever before.\n\nThroughout history, there have been several events that greatly influenced the development of entrepreneurship. Two of the major influences were the Agricultural Revolution and the Industrial Revolution. As markets continued to change throughout history, there was room for growth in business and products. ","564fdc54-c222-4a58-9e3a-87e8ebde1c80",[147],{"id":148,"data":149,"type":51,"version":25,"maxContentLevel":21},"f90003f7-f7a6-41aa-b2ec-1b0d2e9563bd",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":150,"clozeWords":152},[151],"The Agricultural Revolution and the Industrial Revolution were two major influences on the development of entrepreneurship.",[153,154],"Agricultural","Industrial",{"id":156,"data":157,"type":26,"version":25,"maxContentLevel":21,"pages":159},"c1c18703-62da-4466-9809-03c39d835faf",{"type":26,"title":158},"The Evolution of Entrepreneurship",[160,176],{"id":161,"data":162,"type":25,"maxContentLevel":21,"version":25,"reviews":166},"d9770bfd-29b7-410b-8eb9-54d40d9b045f",{"type":25,"title":163,"markdownContent":164,"audioMediaId":165},"The risks of entrepreneurship","Being an entrepreneur has been romanticized in modern times. But business ventures can be challenging to take on, and they're not all success stories. In fact, according to Forbes Magazine, 90% of start-ups fail. The person who starts a business often takes on all of the potential risks if the business fails. \n\n ![Graph](image://130eac7c-81c2-4837-8561-36face30f2b4 \"All businesses start with a plan, but few stick to them\")\n\nWhen the first entrepreneurs traded goods as far back as 17,000 BCE, the process may have been a bit simpler. Nowadays, an entrepreneur puts both their finances and their reputation on the line when starting a new business endeavor.\n\nCareful planning is important for entrepreneurs since trends often change quickly, and even technological changes can be unpredictable. But despite these risks, many people strive to be entrepreneurs because of the independence involved.\n\nAs trends in the workplace have shifted towards more remote work and flexible schedules, business-savvy people have come up with profitable ideas to be able to work for themselves. ","17ed7de6-3fe4-4429-aa45-0a713cf40cbb",[167],{"id":168,"data":169,"type":51,"version":25,"maxContentLevel":21},"14654609-02b8-441f-8b91-cd724f255e69",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":170,"binaryCorrect":172,"binaryIncorrect":174},[171],"What percentage of start-ups fail, according to Forbes Magazine?",[173],"90%",[175],"50%",{"id":177,"data":178,"type":25,"maxContentLevel":21,"version":25,"reviews":182},"6ebd86f5-123c-484a-8992-4044b75796a1",{"type":25,"title":179,"markdownContent":180,"audioMediaId":181},"Entrepreneurs in the modern world","\nThe history of entrepreneurs goes back thousands of years, but entrepreneurship in the modern world is still evolving. Development in technology has created more opportunities for entrepreneurs. With modern technology, business owners can spread information with the click of a button.\n\n ![Graph](image://67fdfaef-8d8e-46c5-940c-0ab22173d6f4 \"Physical shops are no longer the only way for entrepreneurs to do business\")\n\nMany of the obstacles entrepreneurs used to face were removed with the rise of the internet. One example is the availability of advertising at a relatively low cost, or sometimes at no cost, to the entrepreneur. Even the rise of social media has helped entrepreneurs share the message of their business quicker than ever before. \n\nIn previous decades, entrepreneurs had to rely on brick-and-mortar stores for their business. But now they’re able to work and sell their products from anywhere. With all of the challenges we face in today’s world, it is often entrepreneurs who step up to the plate with their problem-solving skills.\n\n","b3804ebd-d381-40d8-be06-6fd800e6a750",[183],{"id":184,"data":185,"type":51,"version":25,"maxContentLevel":21},"3d394248-b197-4a65-98f1-72e789a0e569",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":186,"activeRecallAnswers":188},[187],"How has modern technology created more opportunities for entrepreneurs?",[189],"It has enabled them to spread information quickly and advertise at a low cost or no cost, and to work and sell their products from anywhere",{"id":191,"data":192,"type":28,"maxContentLevel":21,"version":25,"orbs":195},"da94c5e7-bf1e-4265-bc09-83a58e001b9c",{"type":28,"title":193,"tagline":194},"Entrepreneurs and the Agricultural Revolution (Neolithic Revolution)","The first entrepreneurs were hunters and gatherers. But as agriculture continued to grow, people began to settle in one place, taking advantage of trade and all of its benefits. ",[196,254,313],{"id":197,"data":198,"type":26,"version":25,"maxContentLevel":21,"pages":200},"a52959d0-33bb-4ad4-b3d9-9adc0f56d310",{"type":26,"title":199},"The Rise of Agriculture",[201,226,240],{"id":202,"data":203,"type":25,"maxContentLevel":21,"version":25,"reviews":207},"24078d52-e4d5-44e0-98af-fa6935897c87",{"type":25,"title":204,"markdownContent":205,"audioMediaId":206},"From hunting to agriculture","\nThe Neolithic Revolution, also called the Agricultural Revolution, was a period of time around 10,000 BC when there was a transition from hunting and gathering to developed civilizations.\n\nPrior to the Agricultural Revolution and the first entrepreneurs, there were hunters and gatherers. Hunting and gathering was how humans survived, but it made settling in a specific area impractical. It wasn’t until the development of agriculture that humans started creating permanent civilizations, paving the way for early entrepreneurs.\n\n ![Graph](image://24e837ad-d323-4ff3-8550-8a9ddb4f4b42 \"A depiction of prehistoric people\")\n\nLike many other inventions and developments throughout history, this transition from hunting and gathering to agriculture was a means of increasing productivity, and often, a response to the demands of cultural, climate, and population changes in many regions. \n\nAt this time, many cultures began to abandon hunting and gathering for farming. The first farmers were recorded in the Middle East, specifically in the Fertile Crescent, where some of the earliest civilizations lived. Due to the incredibly fertile soil near the Tigris and Euphrates rivers, this region is where humans first began experimenting with various plants and grains before transitioning fully to agricultural societies.\n","98e40281-be0a-4085-9ac7-6ad539b2bfdd",[208,219],{"id":209,"data":210,"type":51,"version":25,"maxContentLevel":21},"1fc12cb5-29c2-4e52-928f-ceb605aaf9ce",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":211,"multiChoiceCorrect":213,"multiChoiceIncorrect":215},[212],"In which region were the first farmers recorded?",[214],"The Fertile Crescent",[216,217,218],"The Sahara Desert","The Amazon Rainforest","The Great Plains",{"id":220,"data":221,"type":51,"version":25,"maxContentLevel":21},"44b9828c-8145-4c42-bb95-8d64c2739930",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":222,"activeRecallAnswers":224},[223],"What is the name of the period of time when there was a transition from hunting and gathering to developed civilizations?",[225],"Neolithic Revolution",{"id":227,"data":228,"type":25,"maxContentLevel":21,"version":25,"reviews":232},"4394f224-69d7-4c56-856b-0e69c0d0f898",{"type":25,"title":229,"markdownContent":230,"audioMediaId":231},"The original entrepreneurs","\nThe original entrepreneurs were traders and merchants. Over 10,000 years ago, these early entrepreneurs exchanged goods with other locals to obtain what they needed. \n\nThe development of agriculture quickly advanced society as people were able to stay in one place, which influenced the creation of the first towns and cities. From there, trade routes were created, and civilizations went from bartering to developing a money system.\n\n ![Graph](image://bca06591-4c8e-490d-8f27-e1cbd1338cf6 \"Roman coins\")\n\nBefore towns and cities were developed, these entrepreneurs traveled around, looking for places to hunt, gather, and ultimately trade. One of the first instances of this was around 17,000 BCE, in New Guinea, when some of the earliest entrepreneurs traded some goods for others. For instance, the people in New Guinea traded obsidian, a black volcanic glass used to make arrowheads for hunting, for other necessary goods such as pigs and root crops.\n\n","329495b5-511b-4304-af2b-a47477d0111b",[233],{"id":234,"data":235,"type":51,"version":25,"maxContentLevel":21},"f1679358-d3ba-4cb7-96d6-ea0ae6eaee0c",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":236,"activeRecallAnswers":238},[237],"Where did the first known instance of trading goods for other goods occur?",[239],"New Guinea",{"id":241,"data":242,"type":25,"maxContentLevel":21,"version":25,"reviews":246},"2c84d3d8-c101-4935-9f09-6fea981565b5",{"type":25,"title":243,"markdownContent":244,"audioMediaId":245},"Domestication of plants and animals","\nThe first domestication of animals started around 15,000 BCE, and the first domestication of plants was recorded around 10,000 BCE. This was a major step towards a more developed society. The Agricultural Revolution had begun. \n\nThe domestication of animals, and later plants, significantly influenced everyday life during the Neolithic Era. Once people began to domesticate plants and animals, they were able to stay in one place rather than move around looking for new goods. This started the development of towns and cities.\n\n ![Graph](image://a69d0db6-d550-416b-8965-6cb13eddeb7b \"Early agriculture. Image: Museo de Prehistoria de Valencia, CC BY-SA 2.0, via Wikimedia Commons\")\n\nPrior to the Agricultural Revolution, tribes obtained resources for their community only. But the development of permanent civilizations led to the specialization of skills within each tribe. As individuals began specializing in areas such as tool-making or pottery, there was a possibility for entrepreneurship for the first time. Not only could someone trade their handmade pottery for something more valuable, if they developed a new technique, they could become more efficient, making time for innovation and the development of new ideas. The key to successful entrepreneurship during this period was anticipating a need to obtain goods worth trading. ","964736e7-918c-4220-9f2e-2db84741201b",[247],{"id":248,"data":249,"type":51,"version":25,"maxContentLevel":21},"312fdc2a-c8d5-431d-a84b-c76d5afe0bb9",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":250,"clozeWords":252},[251],"The Agricultural Revolution began with the domestication of plants and animals.",[253],"Agricultural Revolution",{"id":255,"data":256,"type":26,"version":25,"maxContentLevel":21,"pages":258},"5b3b8e75-0789-4cc7-b857-cfb3b02379a2",{"type":26,"title":257},"Agricultural Developments Across Continents",[259,277,295],{"id":260,"data":261,"type":25,"maxContentLevel":21,"version":25,"reviews":265},"459465be-7b4d-4ab9-bb5d-a34cfc16b67b",{"type":25,"title":262,"markdownContent":263,"audioMediaId":264},"Agriculture in Asia","\nOver 5,000 years ago, Southeast Asia was full of hunters and gatherers. But the agricultural revolution pushed this region towards farming and trading.\n\nFarmers during the Agricultural Revolution took on the role of entrepreneurs by turning their knowledge into practical goods and services. Farmers faced many risks, such as unpredictable seasons and weather patterns. But despite the risks involved, agriculture in Asia continued to grow. In many cases, the increase in food production led to an increase in the population. The rise of agricultural production encouraged both local trade and the development of trade with other areas.   \n\n ![Graph](image://6a60fb32-0723-4747-b798-7e42bcf06776 \"Banshan ware\")\n\nFarming wasn’t the only development that came out of Southeast Asia in the Neolithic Era. For instance, pottery was a significant part of Chinese culture, and eventually influenced European pottery, as well. The most well-known pottery during the Neolithic period was a type of painted pottery called ‘Banshan ware.' Hand-painted with geometric patterns, these large urns were discovered in the Gansu province in China.\n\n","55df914c-5c36-4960-baf2-aa0b20ba0a17",[266],{"id":267,"data":268,"type":51,"version":25,"maxContentLevel":21},"084c72c4-64b6-4945-a6e0-8c796bd13d75",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":269,"multiChoiceCorrect":271,"multiChoiceIncorrect":273},[270],"What type of pottery was discovered in the Gansu province in China during the Neolithic period?",[272],"Banshan ware",[274,275,276],"Ming ware","Tang ware","Song ware",{"id":278,"data":279,"type":25,"maxContentLevel":21,"version":25,"reviews":283},"50ee4338-094f-498b-afdc-7dccd5d30db1",{"type":25,"title":280,"markdownContent":281,"audioMediaId":282},"Agriculture in Europe","\nIt was the specialization of skills during the Agricultural Revolution that led many Europeans down an entrepreneurial path. Farmers in Europe took on an entrepreneurial role in the same way farmers in Asia did. As modern entrepreneurs do, the farmers in Neolithic Europe took on risks to develop wealth. One example is how they expanded their farming to diverse areas and locations, not knowing whether their crops would be successful.\n\n ![Graph](image://2b52c060-422f-4ff0-bcf7-fd5513e98992 \"Linear pottery. Image: Zde, CC BY-SA 4.0, via Wikimedia Commons\")\n\nBut farming in Europe also drove the development of agricultural technology forward, creating opportunities for innovation in regard to both technology and infrastructure. The design of the dugout canoes from the Mesolithic Era was likely improved upon during this time because the expansion of agriculture made it necessary to travel across lakes and streams.      \n\nIn addition to farming, many entrepreneurs began to specialize in areas such as pottery. The ceramics in Europe during this time were called ‘Linear Pottery,’ or ‘Linear Ware,’ due to their distinctive decorations involving numerous lines.\n","30f69f40-0a97-4254-8113-62d58797e32f",[284],{"id":285,"data":286,"type":51,"version":25,"maxContentLevel":21},"55654279-e673-4fc4-baa2-f7ac0804d938",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":287,"multiChoiceCorrect":289,"multiChoiceIncorrect":291},[288],"What is the name of the ceramics produced in Europe during the Agricultural Revolution?",[290],"Linear Pottery",[292,293,294],"Round Pottery","Square Pottery","Triangle Pottery",{"id":296,"data":297,"type":25,"maxContentLevel":21,"version":25,"reviews":301},"49f42814-f755-45e6-b594-b7770b3cea32",{"type":25,"title":298,"markdownContent":299,"audioMediaId":300},"Agriculture in Africa","\n10,000 years ago in Central Africa, people were forced to develop means of entrepreneurship other than hunting and gathering as it became more difficult for early entrepreneurs to travel across the desert. \n\nDue to these changes, especially in a dry period, these hunters and gatherers started settling beside bodies of water, developing different skills and building more permanent civilizations. During this time, the development of agriculture began in Central Africa.\n\n ![Graph](image://5c61083b-f8f7-4b13-8668-8bd9504437cc \"An African woman growing lettuce\")\n\nNaturally, domesticating plants created a need for new tools. In this area, tools used specifically for digging were developed. The purpose of these tools was to increase efficiency, especially when digging up wild roots. This development created new opportunities for trade, as well as opportunities for the innovation of more sophisticated tools. Around the same time, the development of farming began as men and women started clearing plots of land and planting roots and tubers, the parts of a stem that provide nutrients for other plants.\n\nOut of all the crops domesticated in Africa, the most famous was coffee, believed to have originated in Ethiopia. But the cultivation and trade of coffee didn’t begin until the crop reached the Arabian Peninsula. The roasted coffee we’re familiar with today originated in Arabia, but how entrepreneurs profited off coffee has changed over time. \n","23e2cf21-350d-4496-bb59-2b7c6d19105b",[302],{"id":303,"data":304,"type":51,"version":25,"maxContentLevel":21},"73b50321-c5f9-40b4-bcf7-634bf6aace01",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":305,"multiChoiceCorrect":307,"multiChoiceIncorrect":309},[306],"Where did the cultivation and trade of coffee begin?",[308],"The Arabian Peninsula",[310,311,312],"Central Africa","Ethiopia","The United States",{"id":314,"data":315,"type":26,"version":25,"maxContentLevel":21,"pages":317},"4e296f74-beff-46fb-8f29-21eeda68699c",{"type":26,"title":316},"Impact of the Agricultural Revolution",[318],{"id":319,"data":320,"type":25,"maxContentLevel":21,"version":25,"reviews":324},"ebd9bd9a-8690-4c3c-8945-ad92fc0edd8a",{"type":25,"title":321,"markdownContent":322,"audioMediaId":323},"Progress from the Agricultural Revolution","\nWith the development of farming during the Agricultural Revolution, it no longer made sense for each tribe or community to do everything on their own. Specialization of skills is what led to successful societies and settlements.\n\nPreviously, each tribe would hunt and gather their food, taking care only of their own community. But with the development of agriculture and advancements in these societies, each tribe and member started learning skills they could share with others. Ultimately, the specialization of skills allowed entrepreneurs to introduce new methods and ideas, giving each society the opportunity to progress.\n\n\n ![Graph](image://0749704a-a8da-4815-a103-baadb772ff43 \"Craftsmanship was born during the Agricultural Revolution\")\n\nAs these early entrepreneurs began to improve their skills, they were able to pass their knowledge onto others, as well. Many of the early entrepreneurs worked in areas such as pottery, carpentry, and masonry. Much like modern entrepreneurs, the early entrepreneurs were problem-solvers. When new carpentry tools were needed, entrepreneurs found a way to benefit from the creation of more efficient tools. They helped society progress by making a profit off solving problems. ","0330ec26-79ca-441e-96e1-c782c9a64385",[325],{"id":326,"data":327,"type":51,"version":25,"maxContentLevel":21},"36d31341-6345-4a41-a0f8-96d8ccf59503",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":328,"activeRecallAnswers":330},[329],"What led to successful societies and settlements during the Agricultural Revolution?",[331],"Specialization of skills",{"id":333,"data":334,"type":28,"maxContentLevel":21,"version":25,"orbs":337},"e6e01179-2f51-496a-8597-c87ea7441462",{"type":28,"title":335,"tagline":336},"Entrepreneurship in the Ancient and Classical World","In the ancient and classical world, the creation of empires and merchants was not viewed in a positive light.",[338,431,509],{"id":339,"data":340,"type":26,"version":25,"maxContentLevel":21,"pages":342},"abdd5705-50eb-437f-807d-0a3c23950dbe",{"type":26,"title":341},"The Rise of Early Trade and Cities",[343,361,379,397,415],{"id":344,"data":345,"type":25,"maxContentLevel":21,"version":25,"reviews":349},"519bb9a0-15b5-410c-8260-34fe00f0337b",{"type":25,"title":346,"markdownContent":347,"audioMediaId":348},"The creation of cities and towns","\nThe Agricultural Revolution propelled entrepreneurship forward by creating an avenue for businessmen and women to profit off their skills. When hunting and gathering turned to farming and trading, families could work together on a farm to produce goods they could sell or trade for a profit. But many developments in the ancient and classical world, such as the expansion of trade routes, made it possible for business-savvy people to become entrepreneurs.\n\n ![Graph](image://20256092-d9a8-4785-af26-de664ebc9f9f \"Leonardo Fibonacci\")\n\nAfter trade became more common, there was no need for humans to continue living as nomads, and the development of permanent settlements led to the formation of cities. Entrepreneurs during this time were still specializing in areas such as pottery and carpentry, but they also realized they could increase their profits by engaging in trade with other cities. \n\nSome entrepreneurs traded goods, such as those who traded rice from China. But ideas and technology were also traded from one city or culture to another. Leonardo Fibonacci was an Italian trader and mathematician who brought the Arabic number system to Europe, instead of material goods. Fibonacci made a profit by teaching other European citizens about accounting. By doing so, Fibonacci was one of the first service-based entrepreneurs, helping others complete a task to benefit their business.\n","b262e7de-99ca-46b6-b061-567b31ca19db",[350],{"id":351,"data":352,"type":51,"version":25,"maxContentLevel":21},"1e981d83-0efa-4763-b315-9f958145fbbb",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":353,"multiChoiceCorrect":355,"multiChoiceIncorrect":357},[354],"What did Leonardo Fibonacci bring to Europe instead of material goods?",[356],"The Arabic number system",[358,359,360],"The Roman number system","The Greek number system","The Chinese number system",{"id":362,"data":363,"type":25,"maxContentLevel":21,"version":25,"reviews":367},"4dcac11e-cdeb-4987-851c-da628ec3f9b0",{"type":25,"title":364,"markdownContent":365,"audioMediaId":366},"Entrepreneurs and the expansion of trade routes","\nAfter the formation of towns and cities, trade routes expanded, allowing civilizations to trade with places farther away and reach more people. Before this period, communities had to be self-sufficient to survive. But with the expansion of trade routes, if a farmer had milk and meat, he could take it to a market to trade for other goods. \n\nWhen civilizations started trading with one another, it changed the course of the world, both socially and economically. People began to realize they could trade with far-away cities where different products were available. It’s believed that the first long-distance trade, from one city to another, occurred around 3000 BCE between Mesopotamia and the Indus Valley, where some of the earliest cities began.\n\n\n ![Graph](image://84d9ff16-919b-4593-8a42-d5a67958370c \"Goods being transported by sea\")\n\nIn many cases, at least at first, it was simply luxury goods that were traded. With the earliest trade routes, goods were being transported by sea. But with the domestication of animals such as the camel, trade routes over land became more feasible and efficient. Entrepreneurs in the ancient world realized that the right trade route could lead to immense profit. From coffee to gunpowder, the number of commodities that entrepreneurs traded continued to increase, leading to more innovations across the globe.\n","58c5ae0d-9a5f-4658-944f-a52a57307f98",[368],{"id":369,"data":370,"type":51,"version":25,"maxContentLevel":21},"32bd5d39-4b18-404b-8673-6815b03d2d1c",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":371,"multiChoiceCorrect":373,"multiChoiceIncorrect":375},[372],"When did the first long-distance trade occur between two cities?",[374],"3000 BCE",[376,377,378],"4000 BCE","2000 BCE","5000 BCE",{"id":380,"data":381,"type":25,"maxContentLevel":21,"version":25,"reviews":385},"477b8300-9f6e-4b2a-a7ff-9c380dff30db",{"type":25,"title":382,"markdownContent":383,"audioMediaId":384},"How the Silk Road impacted the ancient and classical world","\nNot all trade routes were created equal, but many significantly impacted the ancient world. As trade routes expanded, some entrepreneurs used these routes as a source of wealth by creating or obtaining goods that were in high demand.\n\n ![Graph](image://d9123a81-739b-4be2-b4d6-a7929f0cc281 \"A map showing the Silk Road. Image: Kaidor, CC BY-SA 4.0, via Wikimedia Commons\")\n\nOne instance of an impactful trade route during this time was the ‘Silk Road.’ The Silk Road was a series of trade routes that connected parts of Asia, Africa, and Europe. Merchants used these routes to send silk from China to Europe, as well as stones, spices, and tea from Asia. But the significance of the Silk Road lies in the fact that religion and ideas also traveled along these routes, allowing for more innovations and developments in technology, which entrepreneurs took advantage of.\n\nThe innovation of silk alone was an important part of the Silk Road. Though it was originally used for clothing, it was later discovered that silk could also be used for fishing line or musical instrument strings.\n","02ae0bd7-2429-44a4-96a2-8afced55ff3b",[386],{"id":387,"data":388,"type":51,"version":25,"maxContentLevel":21},"c9a7e51d-8b2e-4f56-8c29-d4c04a65d387",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":389,"multiChoiceCorrect":391,"multiChoiceIncorrect":393},[390],"What is the name of the trade route that connected parts of Asia, Africa, and Europe?",[392],"The Silk Road",[394,395,396],"The Spice Road","The Tea Road","The Stone Road",{"id":398,"data":399,"type":25,"maxContentLevel":21,"version":25,"reviews":403},"d116ec28-a079-41c8-ab5e-36ae5ef98cd8",{"type":25,"title":400,"markdownContent":401,"audioMediaId":402},"The invention of money","\nBefore the invention of money, entrepreneurs engaging in trade would barter with someone by offering to trade their product for another. For example, if an entrepreneur wanted to obtain iron, he might trade several cattle for it. Knowing iron was worth quite a bit when it came to gaining political power, he might then barter with someone in another city to trade the iron for something profitable.\n\nWithout an actual currency, however, trade was limited. Currency looked different for each culture at the time, but it opened up a world of possibilities for entrepreneurs. Silver bars, coins, and even rocks were some of the earliest forms of currency.\n\n ![Graph](image://86346117-1958-4365-82a5-68416a0e9d21 \"Some of the earliest forms of currency. Image: Arkaio Nomisma, CC BY-SA 4.0, via Wikimedia Commons\")\n\nThe invention of currency, which eventually led to the development of paper money, allowed entrepreneurs to exchange something of value without having to find someone willing to trade the specific goods they had. The art of paper making originated in China, and the original form of paper money came from the receipts Chinese merchants used to collect payments for their trades. ","0fe37023-0b57-4c6e-9604-f676144c82f7",[404],{"id":405,"data":406,"type":51,"version":25,"maxContentLevel":21},"43051bb3-4ae7-4cdb-8efc-756d8a5f5a40",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":407,"multiChoiceCorrect":409,"multiChoiceIncorrect":411},[408],"What was the original form of paper money?",[410],"Receipts used by Chinese merchants",[412,413,414],"Government bonds","Paper issued by banks","Egyptian papyrus",{"id":416,"data":417,"type":25,"maxContentLevel":21,"version":25,"reviews":421},"2387d5ff-1e4b-45d1-af64-eb560757a05e",{"type":25,"title":418,"markdownContent":419,"audioMediaId":420},"Creation of empires ","\nAn ‘empire’ is often described as a political organization or power where one central state controls smaller, weaker states. In general, empires are about political power. Around 3200 BCE, the first recognized empire was created in Egypt. At the time, Southern Egypt was divided into 3 separate kingdoms, all centered around a major city. The earliest empires often lasted hundreds of years, if not longer. The Roman Empire was the longest empire to exist, lasting over a thousand years. As most empires do, the first empire was started by a powerful city that conquered 2 smaller cities.\n\n ![Graph](image://f2069c9f-52a7-4ebe-a7fc-e874a12ac17f \"Ancient Rome\")\n\nFrom Ancient Greece to the Byzantine Empire, empires have controlled the economy and impacted the world both culturally and socially for thousands of years. But how did the creation of empires begin? Although it may not have been their motive, the entrepreneurs engaging in trade during this period made the creation of empires possible. There were entrepreneurs who realized trading weapons could lead to a substantial profit. Iron was discovered around 2000 BCE, and having control of iron allowed civilizations to dominate other areas. The trading of weapons and other military goods by entrepreneurs led to the creation of the first empires, including the Roman and Persian Empires.\n","14cdbab1-3df1-4b02-a289-97880c109348",[422],{"id":423,"data":424,"type":51,"version":25,"maxContentLevel":21},"37f84e58-a8d4-404c-a129-957a057ebee2",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":425,"binaryCorrect":427,"binaryIncorrect":429},[426],"What was the first recognized empire, created in 3200 BCE?",[428],"Egypt",[430],"Greece",{"id":432,"data":433,"type":26,"version":25,"maxContentLevel":21,"pages":435},"76e8a385-728f-4fc2-802a-c5178c3c1471",{"type":26,"title":434},"Philosophical and Cultural Influences on Entrepreneurship",[436,450,476,491],{"id":437,"data":438,"type":25,"maxContentLevel":21,"version":25,"reviews":442},"cdd19e2e-9f20-4452-98ab-2fdaa5248df1",{"type":25,"title":439,"markdownContent":440,"audioMediaId":441},"Ancient Greece","\nThough the creation of an empire may be fueled by political gain, empires have led to innovations throughout history. In fact, Ancient Greece and Rome are said to have defined Western Entrepreneurship, and both cultures were full of art and innovation.\n\nThe Ancient Greeks are well-known for their contributions to the field of philosophy, and their ideas even impacted the philosophies of Ancient Rome. There are parts of Western culture that were influenced directly by Ancient Greece, such as modern ideas about mathematics and architecture.\n\n ![Graph](image://076e90de-b774-4a94-bf29-d759a50b29e6 \"An 18th-century drawing of Plato. Image: Wellcome Collection, CC BY 4.0, via Wikimedia Commons\")\n\nEntrepreneurs in Ancient Greece were not viewed as highly as philosophers or politicians, but they weren’t looked down upon as long as their profits were also used to improve the civilization overall.\n\nIn Ancient Athens, there were conditions to what entrepreneurs should be able to do since there was a strong emphasis on virtue. Entrepreneurship was viewed as something that had a positive impact on the economy so long as the entrepreneur spent his money in an ethical way and contributed to the public expenses of Athens.\n","02de2f29-4854-4614-ae3b-2c496f08e2b4",[443],{"id":444,"data":445,"type":51,"version":25,"maxContentLevel":21},"a7f4c953-681e-4cfc-844a-5dc235d9cba3",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":446,"clozeWords":448},[447],"In Ancient Athens, entrepreneurs were expected to spend ethically and contribute to the public expenses.",[449],"spend ethically",{"id":451,"data":452,"type":25,"maxContentLevel":21,"version":25,"reviews":456},"98bab66b-38de-49e3-ada1-e333f044ca43",{"type":25,"title":453,"markdownContent":454,"audioMediaId":455},"The Philosopher Entrepreneur - Thales of Miletus ","\nIn order to truly understand how the culture of Ancient Greece influenced entrepreneurship today, we must take a look at one of the most influential entrepreneurs of their day - Thales of Miletus.\n\nOften known as the 'Philosopher Entrepreneur,’ or the ‘Renaissance Man of Ancient Greece,’ Thales knew how to use his business knowledge for his own gain and success. Thales was the first Ancient Greek philosopher, and he used his skills to think through how his talents could help him produce something instead of just expecting fortune to come to him.\n\n ![Graph](image://a62eae71-500e-4310-86fb-6fbd1fe899d7 \"Thales of Miletus. Image: Wellcome Collection, CC BY 4.0, via Wikimedia Commons\")\n\nOne example is the story of how Thales gained a profit using his skill of weather forecasting. Aristotle explained how, after predicting an excellent season for olive production, Thales invested in olive presses. Able to rent them out at a high price when his prediction came true, Thales made a substantial profit from this investment. By purchasing the olive presses out of season, Thales made one of the first speculative investments. \n","b493f060-a65a-48a0-b644-62a408325c47",[457,468],{"id":458,"data":459,"type":51,"version":25,"maxContentLevel":21},"1b788cab-9c02-4394-8999-360d05df8fc3",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":460,"multiChoiceCorrect":462,"multiChoiceIncorrect":464},[461],"What is the title given to Thales of Miletus, who was an influential entrepreneur in Ancient Greece?",[463],"The Philosopher Entrepreneur",[465,466,467],"The Renaissance Man","The Ancient Entrepreneur","The Ancient Man",{"id":469,"data":470,"type":51,"version":25,"maxContentLevel":21},"20c5e587-cf70-4d16-a56b-3ccd8f897393",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":471,"clozeWords":473},[472],"Thales of Miletus predicted the olive season and invested in olive presses.",[474,475],"olive","olive presses",{"id":477,"data":478,"type":25,"maxContentLevel":21,"version":25,"reviews":482},"bc55d057-8906-45cf-ac8d-f1b845dbb886",{"type":25,"title":479,"markdownContent":480,"audioMediaId":481},"From potholes to profit","\nAs an ancient philosopher, Thales of Miletus spent much of his time thinking, reflecting, and contemplating the world around him. In fact, he spent so much time reflecting and studying the movement of the stars and planets, that he reportedly fell into potholes quite often.\n\n\n ![Graph](image://54faee7e-6d24-4771-ad9d-bcd9c6591f85 \"Aristotle. Image: Wellcome Collection, CC BY 4.0, via Wikimedia Commons\")\n\nThis anecdote led his fellow citizens to believe philosophy could not be applied to any practical skill, and was only useful for reflection. According to Aristotle, this belief was part of the reason why Thales sought to make a profit off the olive presses he purchased. Instead of desiring wealth, he wanted to show others that philosophy was useful for more than contemplation and reflection. Thales continued to prove this through his life’s work, which included his work in engineering, his prediction of a solar eclipse, and his contributions to mathematics.\n\nSo what can we learn from Thales of Miletus? Through his actions, Thales shows us that practical application of knowledge and using creativity to gain profit is part of what it takes to be a successful entrepreneur.","2c278c8c-98a7-4fc3-a4c6-9985e4a68fcc",[483],{"id":484,"data":485,"type":51,"version":25,"maxContentLevel":21},"016786ce-de3b-4de4-b042-f867f24abe4c",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":486,"clozeWords":488},[487],"Thales of Miletus wanted to show that philosophy was useful for more than contemplation and reflection.",[489,490],"contemplation","reflection",{"id":492,"data":493,"type":25,"maxContentLevel":21,"version":25,"reviews":497},"7e7b0cfc-14ed-4b51-a280-dca2df8c94d2",{"type":25,"title":494,"markdownContent":495,"audioMediaId":496},"Ancient Rome","\nMuch like Ancient Greece, Ancient Rome had a culture that pushed the world forward, especially regarding innovation. Ancient Rome is still impacting the world today. The culture of Ancient Rome contributed to modern language, religion, politics, art, and literature, to name a few. It also played a role in the Renaissance Period and the Enlightenment.\n\nBut when it came to entrepreneurship, the wealthy leaders in Ancient Rome, particularly those in the patrician class, looked down on entrepreneurs. The patrician class lived a life of luxury and were generally ranked right below the emperor. In addition, Lex Claudia, a Roman law established in 218 BCE, prevented senators from engaging in commerce.\n\n ![Graph](image://dee571d1-689f-4460-a1d0-996983f6066b \"The School of Athens' - a Renaissance fresco by Raphael\")\n\nDue to the negative view high-class officials had towards entrepreneurs, the equestrian class saw an opportunity for wealth. This class, originally made up of the Roman Calvary until the establishment Lex Claudia, began purchasing privately owned buildings and selling them to make a profit. By engaging in business the higher classes believed was beneath them, the entrepreneurs of the equestrian class often became wealthy businessmen. ","6f093c28-1a45-47c2-aca7-f5411a16855f",[498],{"id":499,"data":500,"type":51,"version":25,"maxContentLevel":21},"deccec63-724d-4d5a-8fe2-154fb5d4cafa",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":501,"multiChoiceCorrect":503,"multiChoiceIncorrect":505},[502],"What class of people in Ancient Rome saw an opportunity to become wealthy by engaging in business activities?",[504],"The equestrian class",[506,507,508],"The patrician class","The senatorial class","The plebeian class",{"id":510,"data":511,"type":26,"version":25,"maxContentLevel":21,"pages":513},"cb71d4e4-5121-404c-8147-2d76095a92aa",{"type":26,"title":512},"Empires and Their Economic Impact",[514,532],{"id":515,"data":516,"type":25,"maxContentLevel":21,"version":25,"reviews":520},"f5318195-5736-4963-95ec-0b3ef249db4c",{"type":25,"title":517,"markdownContent":518,"audioMediaId":519},"Persian Empire","\nThe Persian Empire is the name given to a group of territories that covered modern day Iran. The first Persian Empire, known as the Achaemenid Empire, was founded by Cyrus the Great, around 500 BCE. \n\nThe significance of the Persian Empire comes back to Cyrus the Great. What started as a collection of tribes that raised various animals such as sheep, goats, and cattle became the world’s first superpower because of its leader. Before this dynasty fell to Alexander the Great in 330 BCE, it made major contributions in the areas of culture, science, art, and technology. \n\n ![Graph](image://aab353e2-bcd6-44c2-af76-1cfd5022fa7c \"Cyrus the Great.Image: DiegoColle, CC BY-SA 4.0, via Wikimedia Commons\")\n\nMany of the entrepreneurs present throughout the Persian Empire were merchants. Merchants, who engaged in trade to make a profit, could be either male or female during this period. They often engaged in local trade through the use of markets, as well as long distance trade with other civilizations.\n\nEven the peasant class in the Persian Empire fulfilled entrepreneurial roles by farming livestock, cattle, or other crops. Since the economy at the time was based mostly on agriculture, the peasant class contributed to the economy more than some of the wealthier classes did. ","46172f0d-a99e-4b69-846c-1a23e604dbc7",[521],{"id":522,"data":523,"type":51,"version":25,"maxContentLevel":21},"9333358c-7243-436d-9aa3-3652fa1a3c1a",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":524,"multiChoiceCorrect":526,"multiChoiceIncorrect":528},[525],"What was the name of the first Persian Empire, founded by Cyrus the Great around 500 BCE?",[527],"Achaemenid Empire",[529,530,531],"Parthian Empire","Babylonian Empire","Seleucid Empire",{"id":533,"data":534,"type":25,"maxContentLevel":21,"version":25,"reviews":538},"509deacb-d518-4353-b177-daa82278be6b",{"type":25,"title":535,"markdownContent":536,"audioMediaId":537},"Byzantine Empire ","\nThe Byzantine Empire, also known as the Eastern Roman Empire, existed from 330 CE to 1453 CE. During the early days of the Byzantine Empire, entrepreneurs who engaged in trade became increasingly wealthy as trade between different cultures allowed them to obtain goods that weren’t available locally.\n\nTrade was carried out over land and through the sea, and Constantinople, the capital established by Constantine, became one of the largest hubs for trade. Despite the contributions that commerce added to the Byzantine Empire, entrepreneurs were not viewed in a positive light, making it difficult for those trying to make a profit off their business knowledge.\n\n ![Graph](image://4000b3bb-9853-4c37-9e04-1cff799b81b6 \"Traders of the Byzantine Empire\")\n\nDue to this negative view, Emperor Theophilos allegedly burned a cargo ship when he discovered that his wife, Theodora, had been involved with commercial activity. Overall, there was a distrust of traders and entrepreneurs in the Byzantine empire.\n\nThese views did change over time, however, and the Treaty of Nymphaeum in 1261 CE established formal trade relations between the Nicene Empire and Genoa, furthering opportunities for entrepreneurship.","8a170965-b3bb-412c-adbc-3d109897c9ce",[539],{"id":540,"data":541,"type":51,"version":25,"maxContentLevel":21},"92dd0fa0-d987-4b61-a4ca-2dcf509e05bc",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":542,"clozeWords":544},[543],"Emperor Theophilos allegedly burned a cargo ship when he discovered his wife's commercial activity.",[545],"commercial",{"id":547,"data":548,"type":28,"maxContentLevel":21,"version":25,"orbs":551},"975656d7-b31d-434c-94bf-3254645dd1b2",{"type":28,"title":549,"tagline":550},"Colonialism and Entrepreneurship","In the colonial era, being an entrepreneur meant being involved with trade, and extracting wealth from colonies. This was a dark chapter in the history of business, but also an influential one, with several key developments in the emergence of entrepreneurship.",[552,635,724],{"id":553,"data":554,"type":26,"version":25,"maxContentLevel":21,"pages":556},"44c338a7-139f-4a60-9664-9c622b5bc022",{"type":26,"title":555},"The Rise of Mercantilism",[557,573,587,604,622],{"id":558,"data":559,"type":25,"maxContentLevel":21,"version":25,"reviews":563},"0f028a22-fa6b-48a4-b1b7-c7ef63db8cdb",{"type":25,"title":560,"markdownContent":561,"audioMediaId":562},"Mercantilism ","\nMercantilism is an economic policy that aims to have a balance of trade in order to benefit the economy. It promotes the ideas of imperialism and colonialism. Historically, mercantilism led to wars and even colonial expansion.\n\n ![Graph](image://d8bbb03f-0ef6-4e0c-9035-3a0de019ec52 \"Early merchants trading in the 17th century\")\n\nThis policy became the dominant school of thought in Europe in the 15th century. But this policy also led to the establishment of many colonies, especially in North America. The idea behind mercantilism was that the power of a nation depended on how much gold it had, as well as the value of its exports. \n\nMercantilism encouraged entrepreneurship in the colonial era because of the value put on gold and exports. In the British colonies, this idea encouraged people to purchase from England and to send raw materials to England instead of adding to the wealth of other countries.","5822281f-c618-4c8d-94d1-c3f9d773cf46",[564],{"id":565,"data":566,"type":51,"version":25,"maxContentLevel":21},"eb05850e-7173-4382-a495-db71a165b344",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":567,"binaryCorrect":569,"binaryIncorrect":571},[568],"What economic system was dominant in Europe in the 15th century and encouraged entrepreneurship in the colonial era?",[570],"Mercantilism",[572],"Capitalism",{"id":574,"data":575,"type":25,"maxContentLevel":21,"version":25,"reviews":579},"c488c32a-5453-4aeb-94a4-c95249420a2e",{"type":25,"title":576,"markdownContent":577,"audioMediaId":578},"Entrepreneurship in the New World ","\nIf it weren’t for entrepreneurs during the Colonial Era, America would not exist in the way we know it today. The start of entrepreneurship in America dates back to the early settlers trading with the Native Americans. \n\nAs many of the colonies were founded by corporations, it is evident what kind of impact entrepreneurs had on the founding of America. Mercantilist ideas impacted the New World, and many explorers became wealthy entrepreneurs because of this economic idea.\n\n ![Graph](image://f3075961-76f4-486a-9bf7-5d661a30e973 \"A typical Caribbean plantation\")\n\nColonies such as New England were able to succeed due, in part, to the innovation of entrepreneurs, even if they didn’t have the resources to generate wealth. \n\nWhereas the South was largely agricultural (and driven by slave labor), New England relied on its business sector for its income. Thanks to the innovation and risk taking of countless entrepreneurs, the mercantile economy of New England became more diverse and prosperous than the surrounding colonies. \n\nThe significance of inventions took hold in the 1300s and 1400s as markets developed, leading to the industrial revolution of the 18th century. As people continued to develop markets and machines, entrepreneurship continued to grow.\n","04296ac8-dc58-4912-b0ce-8af7a3d55015",[580],{"id":581,"data":582,"type":51,"version":25,"maxContentLevel":21},"d167e486-1fab-429a-9be7-440a3ac09b66",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":583,"activeRecallAnswers":585},[584],"When did the start of entrepreneurship in America begin?",[586],"Early settlers trading with the Native Americans",{"id":588,"data":589,"type":25,"maxContentLevel":21,"version":25,"reviews":593},"620bd42c-5973-4b74-a7be-c56c8489f6a4",{"type":25,"title":590,"markdownContent":591,"audioMediaId":592},"Entrepreneurs as merchants","\nMerchants are people engaged in trade and have been around for as long as trade has. They existed even in the ancient world and were prevalent in Ancient Greece, Egypt, and China. These merchants were entrepreneurs during the Colonial Era, as well. After the discovery of the New World, trade routes continued to expand over longer distances with more routes.\n\nThis meant there was even more of a need for merchants. The goods traded by merchants from the New World were mostly tobacco, sugar, rum, coffee – often, sadly, in exchange for slaves, who were vital to the production of all of those goods.\n\n ![Graph](image://d80d6d9f-cf08-4560-b7ff-3f60fb70ec06 \"A depiction of a 16th-century merchant\")\n\nIn Europe in the 17th century, people began to trade and purchase goods beyond just basic necessities. With the continuation of colonial expansion, more and more information was available about trading conditions in various places. \n\nAmerica had a significant trade network during the 17th century. And in the 18th century, merchants in America started to specialize in specific roles as merchants.  A hundred years after the Colonial Era, the United States produced more iron and steel than Britain and Germany combined.","f785bbde-02f2-4d76-8d14-60a6abf04005",[594],{"id":595,"data":596,"type":51,"version":25,"maxContentLevel":21},"c80345f2-297f-4d4c-a5f3-7a6e289aace2",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":597,"activeRecallAnswers":599},[598],"What did merchants in the Colonial Era often trade in exchange for slaves?",[600,601,602,603],"Tobacco","Sugar","Rum","Coffee",{"id":605,"data":606,"type":25,"maxContentLevel":21,"version":25,"reviews":610},"2a9001c2-21de-4918-9267-76bfb3cc00ba",{"type":25,"title":607,"markdownContent":608,"audioMediaId":609},"Atlantic trade","\nIn the Colonial Era, trade routes had already expanded, and trading was alive and well. In addition to local trading over land, during this era, Britain began to engage in trade across the Atlantic Ocean.\n\n\n ![Graph](image://b30b8bb8-c8c0-4ec9-ad81-8ca388651ae9 \"The Atlantic Highway\")\n\nWith modern transport methods, it would be much easier to take a short trip across land to trade some goods, but during this time, it was easier to cross the ocean. Thus, the Atlantic Highway was born. \n\nIn a time when mercantilism was still happening, Britain established colonies in America to increase the wealth of their home country. The theory of mercantilism led to the triangular trade system, where raw materials, finished goods, and slaves were traded between Europe, America, and Africa.","bab89c5c-8929-42e6-95dc-24a934b6591f",[611],{"id":612,"data":613,"type":51,"version":25,"maxContentLevel":21},"0959b364-c052-4cfe-93bb-153ff3bdaed8",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":614,"multiChoiceCorrect":616,"multiChoiceIncorrect":618},[615],"What was the name of the trade route established by Britain during the Colonial Era to transport goods across the Atlantic Ocean?",[617],"The Atlantic Highway",[619,620,621],"The Pacific Highway","The Indian Highway","The Mediterranean Highway",{"id":623,"data":624,"type":25,"maxContentLevel":21,"version":25,"reviews":628},"d2744ea6-3bb7-4ed7-8b64-602b215bec08",{"type":25,"title":625,"markdownContent":626,"audioMediaId":627},"Pre-capitalism","\nBefore the rise of capitalism, the idea of monetary gain was not well-accepted. Even though innovation was later seen as a positive thing, leading to the continued rise of inventions and innovations, certain aspects of capitalism at the time were banned by the Christian church or shunned by society as a whole.\n\n ![Graph](image://204e735e-65a0-4900-84aa-2bd344275650 \"Expanded trade routes in the colonial era. Image: Isaac Pérez Bolado, CC BY-SA 3.0, via Wikimedia Commons\")\n\nMercantilism is seen by many scholars as a precursor to capitalism. Despite the negative attitudes towards capitalism, with many developments happening during the Colonial Era, the foundations of capitalism were already built.\n\nAdvancements during the Colonial Era contributed to this foundation. Increased imports from the New World led to expanded trade routes overseas. Although there are many theories on the origin of capitalism, many believe it originated with trade during this era.\n","d940351f-6115-48fb-8e45-e3830a736093",[629],{"id":630,"data":631,"type":51,"version":25,"maxContentLevel":21},"2e239fe0-fbdb-4bc5-b64c-eb819e8766f4",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":632,"activeRecallAnswers":634},[633],"What is seen by many scholars as a precursor to capitalism?",[570],{"id":636,"data":637,"type":26,"version":25,"maxContentLevel":21,"pages":639},"7100180f-336f-4427-a653-5236c895b64f",{"type":26,"title":638},"The East India Company and Its Impact",[640,656,674,688,706],{"id":641,"data":642,"type":25,"maxContentLevel":21,"version":25,"reviews":646},"3dadd52a-db66-48af-89fa-b93e9e05730c",{"type":25,"title":643,"markdownContent":644,"audioMediaId":645},"Overview of East India Company","\nFounded in 1600, the East India Company was originally formed to establish trade between England and the East Indies. At one point, the East India Company was the largest corporation in the world. \n\nThe company, which started out as a trading company, ended up involved in politics as British imperialism swept across India. Throughout the mid-1700s to the early 1800s, more than half of the world’s trade went through the East India Company. But the East India Company also took control of large parts of India, starting in 1757. \n\n ![Graph](image://84b13d48-b350-4daf-8475-c36880d3f43f \"James Lancaster, who commanded the first East India Company voyage in 1601\")\n\nThe monopoly of this company impacted entrepreneurship, considering most entrepreneurs during the Colonial Era were merchants. Initially, the East India Company focused on the spice trade. But cotton, silk, indigo, saltpeter, tea, and opium were later added. In addition to these goods, the East India Company became involved in the slave trade around 1620. \n\nThe entrepreneurs who formed the East India Company gained enough wealth to return to Britain, purchasing estates and other businesses. While they gained huge profits, many of those exploited by them in the colonies were left with nothing, and the economic damage inflicted by the East India Company on British colonies was felt for many generations – arguably, it continues today.","c7738443-30b0-4f43-9c9e-7cd4eeb29cc6",[647],{"id":648,"data":649,"type":51,"version":25,"maxContentLevel":21},"19aab737-16d0-4f52-a548-2d8b519ee38a",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":650,"binaryCorrect":652,"binaryIncorrect":654},[651],"What goods did the East India Company initially focus on trading?",[653],"Spice",[655],"Cotton",{"id":657,"data":658,"type":25,"maxContentLevel":21,"version":25,"reviews":662},"ccc01941-2da4-4467-b70b-9f8dbe5e1c08",{"type":25,"title":659,"markdownContent":660,"audioMediaId":661},"Origins of East India Company ","\nThe origins of the East India Company can be traced back to ‘Drake’s Raiding Expedition of 1577.’ This was the expedition of explorer Francis Drake, who set out to pillage silver and gold from the Spanish settlements. During this expedition, Drake sailed to the East Indies, traded with the Spice Islands, and returned to England with a load of valuable spices.\n\n ![Graph](image://ee8ac594-e7bf-4890-9d02-d53ee382fb61 \"Francis Drake\")\n\nDrake’s expedition aboard the Golden Hind was significant because it was authorized and funded by Queen Elizabeth I and other high-ranking investors. After completing his expedition, Drake wasn’t the only one who gained wealth, as his investors received a large return on their shares. This impacted the business world once these investors realized they could gain a significant return off privateers, and Queen Elizabeth continued to use privateering as a way to raise funds for the government.  \n\nDrake’s success led to a series of expeditions by other Englishmen, eventually influencing James Lancaster, one of the founders of the East India Company. \n","d566609a-38ba-4e61-a037-688eb2cb446d",[663],{"id":664,"data":665,"type":51,"version":25,"maxContentLevel":21},"85279880-b929-47ab-a903-4e63e08ebbc4",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":666,"multiChoiceCorrect":668,"multiChoiceIncorrect":670},[667],"Who authorized and funded Drake's Raiding Expedition of 1577?",[669],"Queen Elizabeth I",[671,672,673],"James Lancaster","Francis Drake","The East India Company",{"id":675,"data":676,"type":25,"maxContentLevel":21,"version":25,"reviews":680},"3f6f192b-b42c-467e-a93c-a8c4aff99844",{"type":25,"title":677,"markdownContent":678,"audioMediaId":679},"The formation of the East India Company","\nOver twenty years after Sir Francis Drake’s expedition around the globe, a group of merchants in England sought the approval of the Queen to set out on an expedition to the East Indies. It took over a year, but in 1600, the group received approval for a royal charter, which granted their company a monopoly on certain aspects of English trade for fifteen years.\n\n![Graph](image://0494afe1-a86c-482e-9bee-80a109d4d485 \"The Limited Liability Act of 1855.\")\n\nOriginally known as 'Governor and Company of Merchants of London Trading into the East Indies,’ their corporation later became the ‘East India Company.’ The formation of the East India Company greatly impacted the future of entrepreneurship and corporations. At the time, incorporation in England was only possible by royal charter or private act by Parliament, and the East India Company was a product of this rule. \n\nThe ability to incorporate a company was not expanded until the Joint Stock Companies Act of 1844, and investors in companies such as the East India Company had unlimited liability until the establishment of the 'Limited Liability Act of 1855.’ ","8aa74c5b-95a3-4bc3-885b-13abc9254b35",[681],{"id":682,"data":683,"type":51,"version":25,"maxContentLevel":21},"15c9d951-6dfc-4da4-9a94-fd2b6ff3a665",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":684,"clozeWords":686},[685],"The East India Company was formed in 1600 by a royal charter.",[687],"1600",{"id":689,"data":690,"type":25,"maxContentLevel":21,"version":25,"reviews":694},"d8e5bd3f-dcd8-4002-a757-50e0bdf4ed2c",{"type":25,"title":691,"markdownContent":692,"audioMediaId":693},"West India Company","\nStarting in 1621, the Dutch West India Company took control of the trade with America, Africa, and the Atlantic. This company held a trade monopoly in the West Indies, and was started by merchants and investors.\n\nWilliem Usselincx was the entrepreneur who co-founded the Dutch West India Company. The company was successful at first because it received a charter for a trade monopoly in the Dutch West Indies, eliminating any competition. Usselincx planned out the beginnings of the Dutch West India Company for years after experiencing the wealth that came from the colonies of Spain and Portugal. \n\n ![Graph](image://ca25517d-a124-4270-8ecb-acc64e3eea6e \"Williem Usselincx\")\n\nSome of the greatest successes of the West India Company were the goods they commandeered from other ships, such as the capture of silver from Spanish fleets. Even though Usselincx was interested in gaining wealth, he also hoped to benefit society. This goal led the West India Company to form the colony of New Netherland, which they used to expand the fur trade in North America.\n\nIt should be acknowledged that both the West and East India companies committed wide-scale atrocities, including giving birth to the modern slave trade, and forcibly extracting huge amounts of wealth from India and elsewhere.","b8ea9813-4796-44c9-9b87-0c80a6afc3f4",[695],{"id":696,"data":697,"type":51,"version":25,"maxContentLevel":21},"9424172e-5120-491e-8bde-8fc9e4fac57b",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":698,"multiChoiceCorrect":700,"multiChoiceIncorrect":702},[699],"Who was the entrepreneur who co-founded the Dutch West India Company?",[701],"Williem Usselincx",[703,704,705],"Peter Stuyvesant","Henry Hudson","Jan van Riebeeck",{"id":707,"data":708,"type":25,"maxContentLevel":21,"version":25,"reviews":712},"a8cd5aac-2ef6-4eea-8d62-a6c33a598a0c",{"type":25,"title":709,"markdownContent":710,"audioMediaId":711},"John Law and the Mississippi Company","\nJohn Law was a Scottish economist and banker who greatly contributed to entrepreneurship in France during the Colonial Era. Law was responsible for setting up France’s first central bank due to his belief that an increase in money would positively impact the economy. Before opening his bank, Law urged leaders in France to offer credit and banknotes to increase production.\n\n ![Graph](image://814a5cf4-17b4-47a7-b2b4-d1ee307c6a95 \"John Law\")\n\nLaw established the General Private Bank in 1716, lending money to private entrepreneurs. It was through this bank that Law was able to establish the Mississippi Company, which he used to gather all French overseas trade into one monopoly. The company was given trading rights over the area for 25 years. \n\nWhile initially, this was a positive turn for entrepreneurs who needed capital to start their businesses, the Mississippi Company was only thriving on paper. In the first recorded example of an economic bubble, Law had used marketing tactics to exaggerate the wealth of his bank, which was funding the Mississippi Company. The Mississippi Bubble burst after the bank could no longer pay for all the bank notes it had given out. ","c51dcff2-a56b-4cbe-9691-5369267d5b44",[713],{"id":714,"data":715,"type":51,"version":25,"maxContentLevel":21},"04fd2b11-3fce-470a-9cc5-386ff10451b0",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":716,"multiChoiceCorrect":718,"multiChoiceIncorrect":720},[717],"What did John Law establish in 1716 to lend money to private entrepreneurs?",[719],"The General Private Bank",[721,722,723],"The General Public Bank","The Mississippi Bank","The Mississippi Company",{"id":725,"data":726,"type":26,"version":25,"maxContentLevel":21,"pages":728},"d3cdc8f8-9910-4c31-8473-ff234464cd43",{"type":26,"title":727},"Foundations of Modern Economics",[729],{"id":730,"data":731,"type":25,"maxContentLevel":21,"version":25,"reviews":735},"3d42a247-7523-4c1b-aada-b96ea5992798",{"type":25,"title":732,"markdownContent":733,"audioMediaId":734},"Luca Pacioli and the birth of accounting","\nLuca Pacioli was an Italian mathematician, known as the Father of Accounting. Not only was Pacioli a mathematician, he was also a Franciscan Friar and was dedicated to his faith. Luca Pacioli, a close friend of Leonardo Di Vinci, impacted the businessmen and women of Europe by developing the double entry system of accounting.\n\n ![Graph](image://56c23b4f-b8da-4387-899d-aafe6454cd3e \"Luca Pacioli\")\n\nThe ‘double-entry system,' or ‘double-entry bookkeeping,’ is a system where debits are checked against credits to balance business accounts. Although there is evidence of this system being used as early as the 13th century, Luca Pacioli was the first to describe it in detail, which allowed others to study and use it for their benefit. Double-entry bookkeeping is beneficial for businesses because it reduces errors, improving the accuracy of accounting records. \n\nPacioli published this system in his mathematics textbook titled Summa de arithmetica, geometria, proportioni et proportionalità. Although there have been advancements in technology that have allowed systems like this one to be more efficient, the basic idea of the double-entry method has remained mostly unchanged for over 500 years. ","275b6c09-bf76-4f5b-a923-887cbf207f5c",[736],{"id":737,"data":738,"type":51,"version":25,"maxContentLevel":21},"2e284f48-305c-4c0c-b5c6-c8e7fda50e70",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":739,"activeRecallAnswers":741},[740],"Who is credited with developing the double entry system of accounting?",[742],"Luca Pacioli",{"id":744,"data":745,"type":28,"maxContentLevel":21,"version":25,"orbs":748},"c659a7b2-b098-48ab-b4a4-4f78f6d54083",{"type":28,"title":746,"tagline":747},"Industrial Revolution","From machines to mass production, the Industrial Revolution was a time of great change. Many industries, such as the automobile industry, boomed during this time.",[749,854],{"id":750,"data":751,"type":26,"version":25,"maxContentLevel":21,"pages":753},"19605801-ec71-4a2e-98d6-957552285557",{"type":26,"title":752},"The Industrial Revolution and Steam Power",[754,772,790,808,829],{"id":755,"data":756,"type":25,"maxContentLevel":21,"version":25,"reviews":760},"59a8db79-3c88-4406-927e-7c3ad561cc05",{"type":25,"title":757,"markdownContent":758,"audioMediaId":759},"Beginning of the Industrial Revolution","\nThe Industrial Revolution was a time of great change for all of the world, not just for entrepreneurs. This era first began with the invention of the steam engine. With this revolution came the idea of mass production, which changed the game for entrepreneurs. Despite some of the more negative aspects of the Industrial Revolution, it marked the birth of our economy as we know it, and without it, much of what we now think of as entrepreneurship would never have existed. \n\n ![Graph](image://1db720e4-358c-471f-8029-fd58ed50aceb \"Adam Smith\")\n\nIn the mid-18th century, Adam Smith led a group of economists who challenged the ideas of mercantilism. These ideas hugely influenced the emergence of industrial capitalism in Britain and many other countries. Merchants were replaced by industrialists during the revolution and items that were previously made by hand were now made by machines. One of the negative effects of this was that fewer workers were needed, but there was more room for innovation and new ideas.","afed0379-680b-4ee5-88c5-0fe2248e7326",[761],{"id":762,"data":763,"type":51,"version":25,"maxContentLevel":21},"3be3a399-1f9d-4513-9246-7e0afbb75c2d",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":764,"multiChoiceCorrect":766,"multiChoiceIncorrect":768},[765],"Who challenged the ideas of mercantilism in the mid-18th century, which had a huge influence on the emergence of industrial capitalism?",[767],"Adam Smith",[769,770,771],"Karl Marx","John Maynard Keynes","Thomas Malthus",{"id":773,"data":774,"type":25,"maxContentLevel":21,"version":25,"reviews":778},"37d55153-d781-462c-9a1a-d1b4a710c494",{"type":25,"title":775,"markdownContent":776,"audioMediaId":777},"The Hero of steam","\nEven though the first working steam engine wasn’t invented until the time of the Industrial Revolution, it was the technology developed in Ancient Greece that fueled the revolution.\n\nHero of Alexandria, also called Hero, was a mathematician and inventor who created the first steam turbine in the 1st century CE. Hero was known for describing the design of this engine, known as the aeolipile, which used steam to heat the turbine, causing it to spin.\n\n ![Graph](image://adecce19-c1f0-44ba-ad9d-307ae09e03d8 \"Hero of Alexandria\")\n\nThe introduction of steam power was significant because, before its discovery, humans had to rely on animals, water, and their own strength. But using water as a source of energy was limiting since it meant factories had to be located near a body of water.\n\nThe power Hero discovered wasn’t actually put to productive use until the 17th century with the development of the first steam engines. Still, we owe a lot to Hero – his groundbreaking ideas came to shape the world thousands of years after his death.","c7c1d03b-547b-4080-b424-993981192a2f",[779],{"id":780,"data":781,"type":51,"version":25,"maxContentLevel":21},"648e053f-7f37-44d0-aeee-ad10d9fd2e0d",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":782,"multiChoiceCorrect":784,"multiChoiceIncorrect":786},[783],"Who is credited with inventing the first steam turbine in the 1st century CE?",[785],"Hero of Alexandria",[787,788,789],"Thales of Miletus","Archimedes","Euclid",{"id":791,"data":792,"type":25,"maxContentLevel":21,"version":25,"reviews":796},"10c3c8bd-faaa-4e0d-8f69-9ed5047d3599",{"type":25,"title":793,"markdownContent":794,"audioMediaId":795},"Tales of Thomas and the steam engine ","\nSeveral engineers and inventors worked with steam power from Ancient Greece to the 17th century. But the credit for the invention and production of the steam engine goes to two Englishmen, both of them named Thomas. \n\n ![Graph](image://6b5c8b0f-8d79-4462-9153-af7e7a978827 \"Engineer Thomas Savery\")\n\nIn 1698, an engineer and inventor named Thomas Savery used the ideas and principles of those who came before him to develop a working steam engine. At the time, this steam engine was used to pump water out of mines. His engine, though effective, was only effective in pumping water from shallow depths. Here’s where the second Thomas comes in.\n\nThomas Newcomen, another Englishman, was able to develop a more powerful steam engine that was able to remove water from deeper mines. Much like Savery’s engine, Newcomen’s engine had flaws of its own. But it was Newcomen’s engine that was used for the next fifty years without any real competition.","68cd1c8a-ff0b-4883-9d00-a69cfb779456",[797],{"id":798,"data":799,"type":51,"version":25,"maxContentLevel":21},"e3c6c72d-a2b6-4aea-987e-a8b2ab988a72",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":800,"multiChoiceCorrect":802,"multiChoiceIncorrect":804},[801],"Who is credited with inventing and producing the first steam engine?",[803],"Thomas Savery",[805,806,807],"Thomas Newcomen","Thomas Edison","Thomas Jefferson",{"id":809,"data":810,"type":25,"maxContentLevel":21,"version":25,"reviews":814},"2fa0ff74-a3a5-44aa-8b66-9ad23f2c7891",{"type":25,"title":811,"markdownContent":812,"audioMediaId":813},"James Watt and his improvements on the steam engine ","\nJames Watt, a Scottish inventor and engineer, was the first person in fifty years to successfully improve the model of Newcomen’s engine. In 1776, he developed the Watt steam engine, improving upon the flaws of the previous model.\n\nJames Watt realized that Newcomen’s model was inefficient and was consuming a large amount of steam. In order to improve upon it and make it more efficient, he remodeled the design of the steam cylinder.\n\n![Graph](image://65703f48-b850-4479-85b8-8832055441d5 \"James Watt\")\n\nIn 1776, Watt developed a partnership with Matthew Boulton, who was willing to financially back Watt’s project. But the agreement was mutually beneficial for the pair, as Boulton wanted to use the steam engine for more than just clearing out mines. \n\nLike most entrepreneurs, both Watt and Boulton were moved forward by a vision. In Boulton’s case, his vision was that of a world powered by steam. It was the innovation of steam power that led to mass production and pushed the Industrial Revolution forward. ","ba287123-e058-4478-842d-3986f789a014",[815,822],{"id":816,"data":817,"type":51,"version":25,"maxContentLevel":21},"939c8852-7da0-4535-9a4a-87200d620836",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":818,"clozeWords":820},[819],"James Watt and Matthew Boulton had a vision of a world powered by steam.",[821],"steam",{"id":823,"data":824,"type":51,"version":25,"maxContentLevel":21},"a4ed01c3-3256-473f-bbaa-041ea6ca5d24",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":825,"activeRecallAnswers":827},[826],"Who was the first person in fifty years to successfully improve the model of Newcomen’s engine?",[828],"James Watt",{"id":830,"data":831,"type":25,"maxContentLevel":21,"version":25,"reviews":835},"5b4427d1-e637-4e83-8738-82537d4cc4f9",{"type":25,"title":832,"markdownContent":833,"audioMediaId":834},"Mass production","\nThe Industrial Revolution occurred around 1750, and mass production was a big part of it. Without the ability to mass produce, we wouldn’t have most of the convenience items we have today. You wouldn’t be able to simply order something online and have it arrive at your door two days later.\n\nMass production, and all of the developments that came along with it, were due to heavy machinery and technology. It was these developments, such as the perfection of steam power from James Watt, that allowed the process of mass production to occur.\n\nPrior to water power, steam power, and coal power, most labor was done by hand. Specialization also played a part in mass production. Instead of having the whole product produced by one skilled worker, specialization sped up labor by having skilled workers complete individual parts of production.\n","7bb4522d-3a90-41f9-adb2-48c48baa031b",[836,847],{"id":837,"data":838,"type":51,"version":25,"maxContentLevel":21},"b9682b4d-b9c7-465a-89df-c7c93899ea6c",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":839,"multiChoiceCorrect":841,"multiChoiceIncorrect":843},[840],"What technological developments allowed for the process of mass production to occur?",[842],"Heavy machinery and technology",[844,845,846],"Specialization","Steam power","Coal power",{"id":848,"data":849,"type":51,"version":25,"maxContentLevel":21},"fc22d153-a425-4b24-9713-9104fabdf6b9",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":850,"activeRecallAnswers":852},[851],"When did the Industrial Revolution occur?",[853],"Around 1750",{"id":855,"data":856,"type":26,"version":25,"maxContentLevel":21,"pages":858},"28464c63-a6f6-43ce-9aef-abc16bbc998d",{"type":26,"title":857},"Innovations in Steel and Automobiles",[859,876],{"id":860,"data":861,"type":25,"maxContentLevel":21,"version":25,"reviews":865},"933ad463-165b-402c-8b08-29e2132769b0",{"type":25,"title":862,"markdownContent":863,"audioMediaId":864},"Steel production","\nThe Industrial Revolution wasn’t the first time steel was produced, but there were major improvements as far as how steel was developed. Benjamin Huntsman, an English inventor, contributed to this process. \n\n\n ![Graph](image://3228f961-3b96-45f9-9079-dc02ccd88e43 \"An early steel-casting device\")\n\nHuntsman was known for experimenting in steel manufacturing. Originally a clock and instrument maker, he opened a plant to produce his own steel in the 1740s. After many experiments, he was able to successfully make cast steel in clay pot crucibles. At first, the local manufacturers refused to purchase his cast steel because they believed it was too hard. But like any person with an entrepreneurial spirit, this didn’t deter him from selling his product, so he shipped it out to France.\n\nBefore the 19th century, steel was expensive, and was used mainly for tools and cutlery. When Sheffield cutlers realized the cutlery made with Huntsman's steel was superior, they had no choice but to use it to keep their business afloat.  ","2b8c661c-ee7d-4696-888a-d02189d6c3a0",[866],{"id":867,"data":868,"type":51,"version":25,"maxContentLevel":21},"7c20f0f2-6f26-45dc-9925-b92780c6086e",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":869,"multiChoiceCorrect":871,"multiChoiceIncorrect":873},[870],"Who was an English inventor who experimented in steel manufacturing in the 1740s?",[872],"Benjamin Huntsman",[874,875,828],"Henry Bessemer","John Wilkinson",{"id":877,"data":878,"type":25,"maxContentLevel":21,"version":25,"reviews":882},"37c941a4-4b75-47ef-abb1-165b1d3097fd",{"type":25,"title":879,"markdownContent":880,"audioMediaId":881},"Henry Ford: automobiles","\nToday, Henry Ford is known by his last name - Ford. He was the creator of the Ford Motor Company and became incredibly wealthy after developing the first automobile that average Americans could afford.\n\n ![Graph](image://0a3f6c31-8e8d-438e-8101-a1575ddfe21f \"Henry Ford\")\n\nBut Henry Ford didn’t just play a part in the Industrial Revolution by creating an affordable automobile. He was also the developer of the assembly line technique of mass production. If it weren’t for mass production, products wouldn’t be as widely available as they are today. \n\nThe assembly line technique was a method of work where parts of something being manufactured were added as the product moved from workstation to workstation. Prior to the Industrial Revolution, most products were made by hand. But mass production and techniques such as the assembly line technique made production faster and more efficient. This technique became common for putting together things such as automobiles.","0665e3b6-8756-4543-949e-88f41df3b5f6",[883],{"id":884,"data":885,"type":51,"version":25,"maxContentLevel":21},"2b7ec102-459f-4791-9d66-34982eb1bed5",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":886,"multiChoiceCorrect":888,"multiChoiceIncorrect":890},[887],"What is the name of the technique used to make production faster and more efficient during the Industrial Revolution?",[889],"Assembly line technique",[844,891,892],"Hand production","Automation",{"id":894,"data":895,"type":28,"maxContentLevel":21,"version":25,"orbs":898},"ed7b2c03-b5ed-4d19-8fdf-2352de40193b",{"type":28,"title":896,"tagline":897},"Entrepreneurship in the 20th century","Thanks to economists, entrepreneurship now has a name and a definition. Entrepreneurship in the 20th century looked like defining what an entrepreneur actually was.",[899,949,979],{"id":900,"data":901,"type":26,"version":25,"maxContentLevel":21,"pages":903},"200653c3-c267-4878-840b-0c8cc0a520b7",{"type":26,"title":902},"Schumpeter's Contributions to Entrepreneurship",[904,929,935],{"id":905,"data":906,"type":25,"maxContentLevel":21,"version":25,"reviews":910},"2e932b7c-bccb-40ed-b339-0a112346d6af",{"type":25,"title":907,"markdownContent":908,"audioMediaId":909},"Joseph Schumpeter and the study of entrepreneurship","\nThe study of entrepreneurship began in the 20th century, and an Austrian economist named Joseph Schumpeter was one of the first to study it. Aside from his study of entrepreneurship, he’s known for creating the idea behind ‘creative destruction.’\n\n ![Graph](image://1f64b1ac-20bd-4b4c-820f-395038393620 \"Joseph Schumpeter. Image: Volkswirtschaftliches Institut, CC BY-SA 3.0, via Wikimedia Commons\")\n\nSchumpeter’s most well-known book is titled Capitalism, Socialism, and Democracy. In this work, he agrees with the idea of Karl Marx that capitalism would be replaced by socialism. But unlike Marx’s belief that capitalism would be brought down by a revolution, Schumpeter believed that capitalism would fall on its own due to the work of intellectuals.\n\nWhen it comes to entrepreneurship, much of the modern thoughts on entrepreneurs and entrepreneurial spirit is credited to Schumpeter. He was likely the first scholar to study the idea behind entrepreneurs, and he argued that the innovation of every nation was only possible because of entrepreneurs. ","dc4e4ba2-5071-4f05-bf46-4270cf8492e2",[911,918],{"id":912,"data":913,"type":51,"version":25,"maxContentLevel":21},"b04e7988-afd7-49f5-b424-90e739b555a5",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":914,"activeRecallAnswers":916},[915],"Who is credited with creating the idea behind 'creative destruction'?",[917],"Joseph Schumpeter",{"id":919,"data":920,"type":51,"version":25,"maxContentLevel":21},"f627cb3c-e234-4df2-953c-558edbdec1b0",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":921,"multiChoiceCorrect":923,"multiChoiceIncorrect":925},[922],"What is the title of Joseph Schumpeter's most well-known book?",[924],"Capitalism, Socialism, and Democracy",[926,927,928],"Das Kapital","The Road to Serfdom","The Protestant Ethic and the Spirit of Capitalism",{"id":930,"data":931,"type":25,"maxContentLevel":21,"version":25},"4290e4a6-74e9-4ea8-bfee-aee90886a95f",{"type":25,"title":932,"markdownContent":933,"audioMediaId":934},"Gale of creative destruction","\n‘Creative destruction’ is a concept in economics credited to the work of Joseph Schumpeter. Schumpeter described creative destruction as “the process of industrial mutation that continuously revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.” \n\n ![Graph](image://23846749-6ecf-4f27-bb24-178e7848f705 \"Karl Marx\")\n\nCreative destruction was based on the ideas of Karl Marx and Marxist thought on the topics of capitalism. In this way, Marx also referred to this process as annihilation, the idea that capitalism destroys and reconfigures previous economic processes.\n\nThe gale of creative destruction was meant to explain how innovation can be both beneficial and destructive at the same time. The new ideas spread by entrepreneurs can bring new employment and wealth to a community. But the ideas of failed entrepreneurs can destroy jobs and businesses. Schumpeter described that, while innovation is a crucial part of society, we must be aware that the majority of innovations fail.","b22fce1b-0ae8-4e7f-9202-b7d8cd56c884",{"id":936,"data":937,"type":25,"maxContentLevel":21,"version":25,"reviews":941},"edc4ae0b-e28a-4b36-89ef-edde798d586f",{"type":25,"title":938,"markdownContent":939,"audioMediaId":940},"What it means to have an entrepreneurial spirit","\nJoseph Schumpeter’s work was significant to the rise of entrepreneurship because he was able to identify what it meant to have an entrepreneurial spirit. According to Schumpeter, necessary qualities of an entrepreneur were creativity and resourcefulness, the ability to use available resources in a new way. One aspect of this was knowing and understanding the difference between inventions and innovation.\n\n ![Graph](image://22e51db1-dd43-4c9d-8870-f7ba2d0bd45f \"Inventors create new products\")\n\nInvention is the process of creating and developing a product or device. On the other hand, innovation means finding a new way to deliver a product or service. Simply put, invention is often the discovery of knowledge, whereas innovation is the development of a method or process. Not every entrepreneur is an inventor, but they are always able to innovate.","4f8b13f4-d84b-404d-8065-bd99031f8c75",[942],{"id":943,"data":944,"type":51,"version":25,"maxContentLevel":21},"109e96b7-7e28-4e47-b826-a83c8717bfb2",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":945,"clozeWords":947},[946],"Schumpeter identified invention and innovation as qualities of an entrepreneur.",[948],"innovation",{"id":950,"data":951,"type":26,"version":25,"maxContentLevel":21,"pages":953},"e17a3185-e52f-4773-b1be-2d95113c7a9d",{"type":26,"title":952},"Entrepreneurship During Economic Turmoil",[954],{"id":955,"data":956,"type":25,"maxContentLevel":21,"version":25,"reviews":960},"d70ebdef-f5fb-49c2-b545-cf828ebf3e8e",{"type":25,"title":957,"markdownContent":958,"audioMediaId":959},"Business and the Great Depression","\nThe Great Depression was a time of financial trouble for many people across the world. This drastic shift in the economy happened after the stock market crashed in October, 1929. In certain countries, the unemployment rate rose as high as 33%.  But despite financial trouble, even entrepreneurs can succeed during a recession.\n\nTake James A. Ryder, for example. In the middle of the Great Depression, Ryder started his own business after purchasing a pickup truck to haul trash and construction materials around South Florida. With just one truck, Ryder started the truck-rental industry. Other large rental companies, such as U-Haul, later followed in Ryder’s footsteps. \n\n ![Graph](image://6cb0b045-5707-44c5-aab1-523eb701918f \"James A. Ryder\")\n\nHe had to borrow the money to purchase his first Model-A Ford truck, but several years after starting his business, Ryder purchased more trucks and began leasing them out to other businesses.\n\nWith the many changes in travel and cargo transport, Ryder’s company quickly grew. Ryder Systems, originally founded in 1933 in Miami, Florida, has now brought in almost $9 billion in revenue. ","fc483ef9-07d2-4250-9ee0-28834e07afe6",[961,972],{"id":962,"data":963,"type":51,"version":25,"maxContentLevel":21},"5b43cc35-521d-4bde-ba08-8f405ae01cd7",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":964,"multiChoiceCorrect":966,"multiChoiceIncorrect":968},[965],"Who founded the truck-rental industry in the middle of the Great Depression?",[967],"James A. Ryder",[969,970,971],"U-Haul","Henry Ford","Alfred Sloan",{"id":973,"data":974,"type":51,"version":25,"maxContentLevel":21},"eb260271-afde-4aed-a031-06974302a23f",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":975,"activeRecallAnswers":977},[976],"When did the stock market crash, leading to the Great Depression?",[978],"October, 1929",{"id":980,"data":981,"type":26,"version":25,"maxContentLevel":21,"pages":983},"9a1587ed-7076-4ae4-9621-2e9630ba02ca",{"type":26,"title":982},"Key Entrepreneurs in History",[984,1002],{"id":985,"data":986,"type":25,"maxContentLevel":21,"version":25,"reviews":990},"b9633671-3cea-4bdd-b5b4-e0633383a683",{"type":25,"title":987,"markdownContent":988,"audioMediaId":989},"Key entrepreneur: Walt Disney ","\nLike many entrepreneurs, Walt Disney started small. Although most people today know Disney as the successful creator of the Walt Disney Company, in the early 1900s, Disney was laid off from his job at a commercial art studio.\n\nDisney and his friend, Ub Iwerks, decided to start their own studio and began making animated films. They created a series of animated sketches which they called ‘Laugh-O-Grams.' Disney clearly had unique ideas, but after a New York film distributor cheated Disney and Iwerks, he was forced to file for bankruptcy.\n\n ![Graph](image://0b846bcf-18ae-4b48-a733-28ffb5009690 \"Walt Disney\")\n\nAfter the failure of his original studio, Disney relocated to Hollywood. He planned to pursue a career in cinematography, but saw an opportunity for success after selling Alice’s Wonderland. Walt Disney and his partner began experimenting with different characters, leading to the creation of Mickey Mouse. It was risky to launch a film enterprise during the transition to motion pictures with sound, but Disney was a visionary. He quickly produced Steamboat Willie, his first cartoon with sounds and music, and the cartoon was an immediate hit.","f37df767-4a4d-4ddc-bdab-5eb37aefb08f",[991],{"id":992,"data":993,"type":51,"version":25,"maxContentLevel":21},"59d37df6-80b2-4c6f-b24c-8ac4b9e3ff71",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":994,"multiChoiceCorrect":996,"multiChoiceIncorrect":998},[995],"What was the name of the first cartoon with sounds and music that Walt Disney produced?",[997],"Steamboat Willie",[999,1000,1001],"Laugh-O-Grams","Alice’s Wonderland","Mickey Mouse",{"id":1003,"data":1004,"type":25,"maxContentLevel":21,"version":25,"reviews":1008},"c32f367f-cb59-4118-a08c-7ccce6b1f083",{"type":25,"title":1005,"markdownContent":1006,"audioMediaId":1007},"Key entrepreneur: Madam C.J. Walker","\nKnown best as a philanthropist, activist, and entrepreneur, Madam C.J. Walker was a trailblazer in the 20th century. She wasn’t always known as Madam C.J. Walker, and those who knew her by her birth name, Sarah Breedlove, saw her transformation from a farm laborer to one of the most successful entrepreneurs of the 20th century.\n\nHer success came from a scalp ailment that caused her to lose her hair. She tried many products and even experimented with her own concoctions before she finally developed her 'Madam Walker’s Wonderful Hair Grower.' \n\n ![Graph](image://e0e0893a-1656-4460-bcbd-bc65333fad8e \"Madam C.J. Walker\")\n\nBut it was her marketing skills and drive for success that led to her becoming a successful entrepreneur. Sarah started out by giving free demonstrations and even selling her product door to door. This innovation showed how much she believed in her product and how much she was willing to risk in order to sell it.\n\nAfter she started to become successful, her husband believed the business had reached its full potential, but she knew she had more to offer. Madam C.J. Walker’s unwillingness to settle for a small amount of success allowed her to become America’s first self-made woman millionaire. ","3b4c37a8-18a8-4dca-b7c2-4d90f6708512",[1009],{"id":1010,"data":1011,"type":51,"version":25,"maxContentLevel":21},"19a3deef-549b-4ee6-9df8-0b3e8c0de894",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":1012,"activeRecallAnswers":1014},[1013],"Who was the first self-made woman millionaire in America?",[1015],"Madam C.J. Walker",{"id":1017,"data":1018,"type":28,"maxContentLevel":21,"version":25,"orbs":1021},"8d12ace5-85c0-4137-9e7e-1c70c35f05b4",{"type":28,"title":1019,"tagline":1020},"Post-WWII","What better time to be an entrepreneur than a time when the economy is booming? The end of World War II was a time of prosperity for many countries, especially the United States.",[1022,1097,1150],{"id":1023,"data":1024,"type":26,"version":25,"maxContentLevel":21,"pages":1026},"faa95b86-756f-4db2-85c1-042d21760f0d",{"type":26,"title":1025},"Post-War Economic Changes",[1027,1045,1061,1084],{"id":1028,"data":1029,"type":25,"maxContentLevel":21,"version":25,"reviews":1033},"18218df8-4376-4c48-b8ff-2860df7563ac",{"type":25,"title":1030,"markdownContent":1031,"audioMediaId":1032},"Changes in the global economy","\nPost World War II, the global economy experienced a time of great economic growth and prosperity in many countries. The United States, in particular, greatly benefited from World War II. However, this boom in the economy was surprising to some. Before the war ended, many economists, such as Paul Samuelson, predicted that there would be a great recession after the country stopped employing soldiers.\n\nSamuelson’s prediction about government spending did come true, but it didn’t cause a collapse in spending or unemployment. The factories that were previously building weapons started building consumer products, such as toasters.\n\nCertain goods, whose production had stopped during the war, were produced again. Tax rates were lowered, and the government was no longer directly involved in distributing resources to civilians. Overall, the government stepping back from controlling the economy had a positive impact on the economy and on businesses. People were ready to spend again, and this created an opening for entrepreneurs waiting for the right moment to start a new business or sell their ideas. \n","7f337856-2f67-44c7-8db0-9615ecfbe223",[1034],{"id":1035,"data":1036,"type":51,"version":25,"maxContentLevel":21},"86ba852c-ec61-4f29-ab42-edc5436d9cf7",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1037,"multiChoiceCorrect":1039,"multiChoiceIncorrect":1041},[1038],"What did Paul Samuelson predict would happen after the war ended?",[1040],"A great recession",[1042,1043,1044],"A great boom","A great increase in spending","A great decrease in unemployment",{"id":1046,"data":1047,"type":25,"maxContentLevel":21,"version":25,"reviews":1051},"767f8a4d-8674-4fba-8b9f-482db1e23be9",{"type":25,"title":1048,"markdownContent":1049,"audioMediaId":1050},"Entrepreneurs and the G.I. Bill","\nOne aspect of the booming economy in America post World War II was the G.I. bill, which helped American soldiers after their return from the war. This bill offered soldiers a year of pay while they transitioned back to civilian life. It also allowed servicemen and women to easily get a loan for a home or a business, creating an ideal scenario for budding entrepreneurs.\n\n ![Graph](image://c5d3609a-932e-49e7-8b1c-50c2fec0f5c5 \"A letter detailing a G.I.'s grant after World War II\")\n\nIn the decade after the war, the G.I. Bill helped over 8 million veterans attend college. Veterans were given $500 a year to put towards their college tuition, as well as an additional stipend each month while they attended school.\n\nEven though many entrepreneurs become successful without finishing college, the G.I. bill provided aspiring entrepreneurs an opportunity to learn about running a business or gaining credentials related to their field. Before the war, a college education was considered to be a privilege for the elite, not something available to anyone. But the G.I. bill allowed millions of veterans to go to school in the hopes of a brighter future. ","4a957cac-cb94-4998-ba43-af4d47241085",[1052],{"id":1053,"data":1054,"type":51,"version":25,"maxContentLevel":21},"baf75309-b30b-4765-8ed0-e564526fa47a",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1055,"binaryCorrect":1057,"binaryIncorrect":1059},[1056],"How much money did veterans receive each year to put towards their college tuition under the G.I. Bill?",[1058],"$500",[1060],"$1000",{"id":1062,"data":1063,"type":25,"maxContentLevel":21,"version":25,"reviews":1067},"7fc19a94-96df-4596-b40f-6f193f39a2ca",{"type":25,"title":1064,"markdownContent":1065,"audioMediaId":1066},"Changes in entrepreneurship","\nThe growth seen in the United States post World War II didn’t occur in every country. In fact, there were countries that experienced a lot of damage from the war and took many years to recover from it. Despite the damages in Europe, many countries had significant economic growth like the United States, but it occurred at a much slower pace. \n\n ![Graph](image://bdf2261f-93e8-432c-aa48-5d01553b2c3a \"Japan's economy exploded in the Post-WWII era\")\n\nThe United States was developing new technology, but due to the turmoil that occurred between World War I and World War II, many other countries, like those in Europe, weren’t able to implement these technologies right away.\n\nHowever, entrepreneurship wasn’t just booming in the United States after the war. Japan, for example, began to recover economically and eventually had the fastest growth rates in the world. Even in the United Kingdom, the unemployment rates during the Golden Age of Capitalism were lower than before and after this period of post-war economic growth.","7ae3857e-9039-40e3-8819-474ea1d53a2b",[1068,1075],{"id":1069,"data":1070,"type":51,"version":25,"maxContentLevel":21},"01a4b5dd-bf16-4c22-be7a-30a4a68ccad7",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":1071,"activeRecallAnswers":1073},[1072],"What term is used to describe the period of post-war economic growth?",[1074],"The Golden Age of Capitalism",{"id":1076,"data":1077,"type":51,"version":25,"maxContentLevel":21},"5e72792f-9903-4125-ba49-c6f5c3d3517a",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1078,"binaryCorrect":1080,"binaryIncorrect":1082},[1079],"What country had the fastest growth rates in the world after World War II?",[1081],"Japan",[1083],"United States",{"id":1085,"data":1086,"type":25,"maxContentLevel":21,"version":25,"reviews":1090},"d7117d86-f510-4c15-8377-45d3c92e5f16",{"type":25,"title":1087,"markdownContent":1088,"audioMediaId":1089},"Golden Age of Capitalism ","\nThe economic prosperity happening post World War II is often known as the Golden Age of Capitalism. Post World War II, unemployment rates dropped to as low as 2 percent. \n\n ![Graph](image://5de416a7-1ef5-4680-aa11-d53c0caae456 \"Silly Putty\")\n\nCertain industries that were almost completely unused or unnecessary during the war started to prosper. There was increased innovation in this post-war period. Aviation, computer technology, and automobiles are just a few of the industries that began to prosper during this time. Film production was another industry that boomed after the war. \n\nWithout this Golden Age, we wouldn’t have products such as Silly Putty. Despite the failure of the original product, which was an attempt at making synthetic rubber, it became a popular children’s toy. This originally failed product ended up in the National Toy Hall of Fame, and just goes to show that even failures can ultimately lead to success.","035b9582-9c3e-49f7-a1ad-49b76fc11745",[1091],{"id":1092,"data":1093,"type":51,"version":25,"maxContentLevel":21},"e8a78599-1320-4ae1-8573-f3c69a497c96",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":1094,"activeRecallAnswers":1096},[1095],"What is the term used to describe the economic prosperity that happened post World War II?",[1074],{"id":1098,"data":1099,"type":26,"version":25,"maxContentLevel":21,"pages":1101},"82078638-d558-414e-95b5-e5d775bcb46c",{"type":26,"title":1100},"Innovations and Accidental Inventions",[1102,1120,1134],{"id":1103,"data":1104,"type":25,"maxContentLevel":21,"version":25,"reviews":1108},"e0ae7e66-1007-418c-a124-e9d928abfac6",{"type":25,"title":1105,"markdownContent":1106,"audioMediaId":1107},"From government labs to Easter Eggs","\nSilly Putty, a popular children’s toy from the 20th century, was invented accidentally during World War II. The inventor of Silly Putty, James Wright, was attempting to make a synthetic rubber for the U.S. government. The substance he made in a General Electric Lab was similar to rubber, but with the added bonus of being able to copy the print of a comic book page if you pressed the substance against it.\n\n ![Graph](image://98e07c24-4044-4085-ae91-4c494482af7f \"James Wright\")\n\nUnfortunately for Wright, the government had no use for his putty since it was no better than the synthetic putty already invented. But it ended up being incredibly useful for entrepreneur Peter Hodgson. After seeing people enthralled with the substance at a party, he renamed it ‘Silly Putty, and sold it as a children’s toy inside plastic eggs.\n\nSince its creation, over 300 million eggs full of Silly Putty have been sold. As an entrepreneur, Peter Hodgson took something that was otherwise useless and turned it into something profitable.  ","a49b536c-4ae9-4900-bb43-dbcd728291a2",[1109],{"id":1110,"data":1111,"type":51,"version":25,"maxContentLevel":21},"11e5c2b0-b528-4a83-a2c3-8e4ad9fea297",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1112,"multiChoiceCorrect":1114,"multiChoiceIncorrect":1116},[1113],"Who was the entrepreneur who saw people enthralled with the substance and renamed it 'Silly Putty'?",[1115],"Peter Hodgson",[1117,1118,1119],"James Wright","General Electric","U.S. Government",{"id":1121,"data":1122,"type":25,"maxContentLevel":21,"version":25,"reviews":1126},"3936670c-47e0-40c4-9558-e705531a57ce",{"type":25,"title":1123,"markdownContent":1124,"audioMediaId":1125},"The first Jeep","\nThe automobile industry continued to grow post World War II. One specific automobile that became very popular after the war was the Jeep. The original design of the Jeep was created because the United States Army was looking for a  ‘light reconnaissance vehicle’ that fit their specifications.\n\n ![Graph](image://f1b9fd98-53da-4570-bbff-60cabe16f96f \"The first model of Jeep\") \n\nIt felt like an impossible task, and after soliciting bids from over a hundred companies, only three automakers responded. Bantam Car Co, Willys-Overland Motors, and Ford Motor Co. were the only companies willing to take the risk, representing a genuine entrepreneurial spirit.\n\nEventually, the Army awarded Willys-Overland Motors the contract, and the motor company began producing Jeeps to be used on the battlefield. The Jeep was the first vehicle of its kind that was able to move troops and weapons as efficiently as the Army needed. It was incredibly versatile because it was both durable enough to carry and transport heavy weaponry, but also small enough for aircraft transportation. \n","a88ca8f3-a853-4620-92d9-971da452e96c",[1127],{"id":1128,"data":1129,"type":51,"version":25,"maxContentLevel":21},"ccca4776-7ee3-4d8d-b0af-71f8b9fd28d2",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":1130,"activeRecallAnswers":1132},[1131],"Who was awarded the contract to produce Jeeps for the United States Army?",[1133],"Willys-Overland Motors",{"id":1135,"data":1136,"type":25,"maxContentLevel":21,"version":25,"reviews":1140},"1759ec50-7ad4-4b94-a4e5-9450648a2bfd",{"type":25,"title":1137,"markdownContent":1138,"audioMediaId":1139},"Travel and automobiles ","\nBefore the Jeep became a fashionable automobile to drive, Willys-Overland Motors started marketing the vehicle to farmers, claiming that the first civilian Jeep model could do the work of at least 2 of their horses. \n\nWith everything but the necessary parts stripped off, the civilian models of the Jeep designed after the war weren’t the most practical vehicles. But they became more popular as new models were designed in the 1940s and 1950s. Jeeps were the precursor to SUVs, and were sold commercially for the first time after World War II.\n\n ![Graph](image://80636f92-e98c-41ae-b27a-db38a920b123 \"Horses were made redundant on farms thanks to SUVs\")\n\nBetween 1945 and 1955, overall car sales quadrupled. 75% of American households owned a car by the end of the 1950s. The peak of the automobile industry was in 1965. The automobile industry thrived during the 1950s and 1960s in America, where automobiles were becoming faster and more stylish than ever before. With the economy booming, Americans were spending money on large purchases such as automobiles and houses.\n\nBehind every booming industry, including the automobile industry, were entrepreneurs finding ways to make more money off the same products through innovation and selling to a different audience.  ","6b2545cf-d523-4837-91da-74de21ae1ab0",[1141],{"id":1142,"data":1143,"type":51,"version":25,"maxContentLevel":21},"07d00ba3-999a-4559-b462-0fe580df6e1a",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1144,"binaryCorrect":1146,"binaryIncorrect":1148},[1145],"What year marked the peak of the automobile industry in America?",[1147],"1965",[1149],"1945",{"id":1151,"data":1152,"type":26,"version":25,"maxContentLevel":21,"pages":1154},"2de9eae9-1706-42b2-9685-ff9cfb4127f0",{"type":26,"title":1153},"Mass Consumption and Entrepreneurship",[1155,1170,1188],{"id":1156,"data":1157,"type":25,"maxContentLevel":21,"version":25,"reviews":1161},"01f3bd72-103d-4ad3-989c-73db2bb9bc50",{"type":25,"title":1158,"markdownContent":1159,"audioMediaId":1160},"Mass consumption and its effects on entrepreneurship","\nAs the war came to a close, there was uncertainty surrounding the economy. Since most of the factories and mass production during the war were for the military, there was a reconversion process to using these factories for civilian production. Consumer culture was rampant after the economic boom post World War II.\n\n ![Graph](image://eff42597-68bc-440a-87ff-e4b30e53c0f3 \"US military planes\")\n\nBut the automobile industry wasn't the only industry booming. The U.S. factories that had built automobiles during the war started producing airplanes, engines, and other necessary supplies. \n\nThis worked out well for Americans because after the war, with the economy booming, Americans were ready to spend. Mass consumption and the development of consumer culture opened a world of opportunities for entrepreneurs.\n\nBecause most of the production during wartime was for the sake of the military, production after the war allowed entrepreneurs and businesses to create new products for the sake of creating them and making a profit. ","226fbd94-1aa1-44d1-9b71-ca910a474a17",[1162],{"id":1163,"data":1164,"type":51,"version":25,"maxContentLevel":21},"b7d84af3-bda0-424f-a154-f7af9b5f476d",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1165,"clozeWords":1167},[1166],"After World War II, there was an economic boom and a rise in consumer culture and mass consumption.",[1168,1169],"consumer culture","mass consumption",{"id":1171,"data":1172,"type":25,"maxContentLevel":21,"version":25,"reviews":1176},"a67dfaca-1bd7-4ad7-9bd6-563ed6847318",{"type":25,"title":1173,"markdownContent":1174,"audioMediaId":1175},"Key entrepreneur: Howard Hughes","\nAn American entrepreneur, film director, engineer, and pilot, Howard Hughes was an example of how many entrepreneurs thrived after World War II.\n\nTruly a Renaissance man, Hughes’ first claim to fame was in the film industry, where he became known for producing films such as Hell’s Angels and Scarface. But ultimately, Hughes’ success came from various entrepreneurial endeavors, not just the film industry.\n\n ![Graph](image://b2bb1a7f-c361-4006-8faf-26c78b88346c \"Howard Hughes\")\n\nPrior to World War II, Howard Hughes formed the Hughes Aircraft Company, built out of his love for aviation. The Hughes Aircraft Company produced products such as the Spruce Goose. Although it only took one flight, the Spruce Goose was the largest flying boat built by any manufacturer, and it held the record for largest wingspan until 2019.  \n\nHughes extended his empire even further in his final years, investing in real estate, casinos, and hotels in Las Vegas, Nevada. At the end of his life, he became one of the most powerful men in the state and is now credited with making Las Vegas into the city it is today. ","93282f2a-07f1-4aa9-833d-8ee5de3ef820",[1177],{"id":1178,"data":1179,"type":51,"version":25,"maxContentLevel":21},"aea5f88f-4054-4a1b-b4af-055e20082584",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1180,"multiChoiceCorrect":1182,"multiChoiceIncorrect":1184},[1181],"What was the name of the large flying boat built by Howard Hughes' company prior to World War II?",[1183],"Spruce Goose",[1185,1186,1187],"Silver Swan","Golden Gull","Bronze Buzzard",{"id":1189,"data":1190,"type":25,"maxContentLevel":21,"version":25,"reviews":1194},"a3765109-eb64-4128-a42f-4f700efd34c4",{"type":25,"title":1191,"markdownContent":1192,"audioMediaId":1193},"Key entrepreneur: Ray Kroc","\nBorn to Czech-American parents, Ray Kroc was an American businessman best known for the global expansion of McDonald’s. Kroc purchased the rights to McDonald’s in 1961 and worked as the CEO from 1967 to 1973.\n\nRay Kroc started as an equipment salesman for Prince Castle Sales before he realized the potential of McDonald’s. Before McDonald's became as widespread as it is today, Kroc struggled to gain the profit he was looking for.\n\n ![Graph](image://b16897ef-83bd-4827-909b-b0b4e77387d4 \"Ray Kroc\")\n\nBut, ultimately, it was Kroc's strict operating guidelines that made McDonald's so successful. He ensured the food look and taste the same at different franchises by controlling food prep, portion sizes, and cooking methods at each location. His ability to maintain consistency throughout all his franchises contributed to the success of McDonald's. \n\nBut McDonald’s wasn’t Kroc’s only entrepreneurial endeavor. After retiring from McDonald’s, Kroc purchased the MLB team, the San Diego Padres, and owned the team until his death in 1984.","dda3ec97-8236-4989-8985-ec795357849e",[1195],{"id":1196,"data":1197,"type":51,"version":25,"maxContentLevel":21},"fd37ca1b-b24f-4732-8584-2c6e463981d4",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1198,"binaryCorrect":1200,"binaryIncorrect":1202},[1199],"What year did Ray Kroc purchase the rights to McDonald's?",[1201],"1961",[1203],"1967",{"id":1205,"data":1206,"type":28,"maxContentLevel":21,"version":25,"orbs":1209},"f572306f-55f0-42c2-9dab-37f34e5f13fd",{"type":28,"title":1207,"tagline":1208},"Information Age","In less than a hundred years, we went from inventing the first commercial radio to carrying computers in our pockets. The Information Age shaped the world in a way most other advancements couldn't. \n",[1210,1265,1311],{"id":1211,"data":1212,"type":26,"version":25,"maxContentLevel":21,"pages":1214},"04403875-2c29-4458-b435-63c113010c53",{"type":26,"title":1213},"The Digital Revolution",[1215,1229,1247],{"id":1216,"data":1217,"type":25,"maxContentLevel":21,"version":25,"reviews":1221},"ae1baec6-1e86-4f6a-aa51-07b8b3bf43bb",{"type":25,"title":1218,"markdownContent":1219,"audioMediaId":1220},"Digital revolution","\nThe Information Age goes by a few names. Sometimes called the Computer Age, New Media Age, or the Digital Age, no matter what name you use, it refers to the period that began with the rapid growth in technology starting in the 20th century. \n\n ![Graph](image://6a73ae61-c9ac-4bab-a606-0ed0fa8aa888 \"A woman uses a tablet computer\")\n\nThis period was sparked by the Industrial Revolution and is often considered to have begun with the invention of the transistor in 1947. Without the transistor, a device used to amplify or transmit electrical signals, most of the modern electronics we use today wouldn’t exist. \n\nEver since the rise of the Information Age, some of the most well-known entrepreneurs have been in the tech industry. With new developments and advancements all the time, it has become one of the most successful fields to be in. ","2d6c6b3d-3334-41ef-a83b-f805faca2eda",[1222],{"id":1223,"data":1224,"type":51,"version":25,"maxContentLevel":21},"c0874505-ea01-4d13-9bc1-ccee2f25e7a4",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1225,"clozeWords":1227},[1226],"The Information Age began with the invention of the transistor in 1947.",[1228],"transistor",{"id":1230,"data":1231,"type":25,"maxContentLevel":21,"version":25,"reviews":1235},"a3dd77fd-7e45-488c-b292-7b5e94e3ef25",{"type":25,"title":1232,"markdownContent":1233,"audioMediaId":1234},"Transistors","\nThe start of the Information Age is often marked by the invention of transistor technology. A transistor is a semiconductor device that connects to an electric circuit. This type of device relies on semiconductor materials, such as silicon, in order to function.\n\nThe transistor technology replaced the triode, a kind of vacuum tube. Compared to the transistor, the triode was a lot larger in size and consumed a lot more power.\n\n ![Graph](image://307f45b4-3f74-4ddd-98c3-fcb80d386bb5 \"A transistor\")\n\nThe first transistor was demonstrated at the research center for American Telephone & Telegraph, also known as AT&T. The research center, Bell Labs, is responsible for an advancement in technology that some experts have called the most important invention of the 20th century.\n\nIf it weren’t for the transistor, other major technological devices, such as the computer, cars, hearing aids, and laptops, wouldn’t be possible. The transistors inside these devices are what make them run, and run efficiently.  ","7c365dfd-16ad-45df-b9fe-dce37ada622f",[1236],{"id":1237,"data":1238,"type":51,"version":25,"maxContentLevel":21},"fc02b320-425c-400a-9200-197f85d08a24",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1239,"multiChoiceCorrect":1241,"multiChoiceIncorrect":1243},[1240],"What research center is responsible for the invention of the transistor, which some experts have called the most important invention of the 20th century?",[1242],"Bell Labs",[1244,1245,1246],"Hewlett-Packard","Microsoft Labs","Bletchley Park",{"id":1248,"data":1249,"type":25,"maxContentLevel":21,"version":25,"reviews":1253},"9d10882d-29ae-461a-b6d8-d1bfb7cc42f5",{"type":25,"title":1250,"markdownContent":1251,"audioMediaId":1252},"Computers","\nThe invention of the transistor allowed for the development of mainframe computers. These were invented in the 1950s and 1970s, and were big enough to fill an entire room. Often costly to both purchase and maintain, these computers were used mostly for larger corporations and government agencies.\n\n ![Graph](image://379f40df-6c77-4e05-abb8-2be4b3a067ac \"A vintage mainframe computer\")\n\nPersonal computers were the ones small enough and eventually, affordable enough, for individuals to use in their homes. In the early years of their development, they were often called ‘home computers.'\n\nIn the early development of the personal computer, the market of computer operating systems was dominated by the Microsoft Corporation, founded by Bill Gates. Even the macOS operating system developed by Apple was not as widespread. As of 2022, the market share for operating systems is still predominantly Microsoft. ","6df5d615-ca11-4657-ad6e-eccb3123eec3",[1254],{"id":1255,"data":1256,"type":51,"version":25,"maxContentLevel":21},"3f97a007-8246-4df5-a4ed-1ef7d3ddd771",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1257,"multiChoiceCorrect":1259,"multiChoiceIncorrect":1261},[1258],"What company dominated the market of computer operating systems in the early development of personal computers?",[1260],"Microsoft Corporation",[1262,1263,1264],"Apple Corporation","IBM Corporation","Oracle Corporation",{"id":1266,"data":1267,"type":26,"version":25,"maxContentLevel":21,"pages":1269},"1b10c498-cfd1-4b64-93cc-92513360a33d",{"type":26,"title":1268},"Key Entrepreneurs in Technology",[1270,1293],{"id":1271,"data":1272,"type":25,"maxContentLevel":21,"version":25,"reviews":1276},"8ac2c17b-3957-4d19-a9a9-b86b89a75c13",{"type":25,"title":1273,"markdownContent":1274,"audioMediaId":1275},"Key entrepreneur: Bill Gates","\nBorn William Henry Gates III, Bill Gates is the co-founder of Microsoft. The personal computer revolution that occurred throughout the 1970s and 1980s was pushed forward by Gates. He and his childhood friend, Paul Allen, founded Microsoft together in 1975.\n\n ![Graph](image://a41302c9-2132-40e8-8adf-975f8209066d \"Bill Gates\")\n\nBill Gates had been thinking of ideas and developments even before graduating high school. He actually wrote his first software program at the age of 13. Even the critics of Bill Gates can’t deny his success as an entrepreneur. On Forbes Magazine's list of the wealthiest people, Bill Gates made the top of the list every year from 1995 to 2017, except for the years 2010 to 2013. \n\nGates made Microsoft successful by taking an existing operating system and adapting it to fit the personal computer. It was his ability to dominate the computer market with his adapted technology, as well as his partnership with lBM, the largest supplier of computer hardware, that made Microsoft such a success. Even most companies who tried to copy the first operating system he created realized it was cheaper to purchase his.","439951e9-06a8-4a18-b1a2-be425dbcba01",[1277,1285],{"id":1278,"data":1279,"type":51,"version":25,"maxContentLevel":21},"4555b866-c941-48a2-bf0a-7bff56a49012",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1280,"clozeWords":1282},[1281],"Bill Gates co-founded Microsoft in 1975 and was the top of Forbes Magazine's wealthiest list from 1995 to 2017.",[1283,1284],"1975","1995",{"id":1286,"data":1287,"type":51,"version":25,"maxContentLevel":21},"d21292ea-70f1-4bbe-971c-cd1cffcda820",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1288,"binaryCorrect":1290,"binaryIncorrect":1291},[1289],"What year did Bill Gates and Paul Allen found Microsoft?",[1283],[1292],"1970",{"id":1294,"data":1295,"type":25,"maxContentLevel":21,"version":25,"reviews":1299},"dda7b9d4-bd59-4d4e-bfd3-872ae78cfd91",{"type":25,"title":1296,"markdownContent":1297,"audioMediaId":1298},"Key entrepreneur: Steve Jobs","\nSteve Jobs, co-founder and chairman of Apple, was an American entrepreneur, designer, and investor. Steve Jobs’s story and what made him a successful entrepreneur can’t just be described by the success of Apple, but by their failures and how Jobs corrected them.\n\nEven despite his developments and designs, Jobs was forced out of Apple in 1985 due to issues with the board and CEO. By 1997, Apple was on the verge of bankruptcy until Jobs returned. The campaign he used to revive Apple perfectly describes how he was able to save the company. \n\n ![Graph](image://38cc3ac4-916d-40d9-afae-a7cef7ed9480 \"Steve Jobs introduces the iPhone\")\n\nThe advertising slogan was ‘Think Different.’ It was his ability to think differently that made Apple a success. The ‘Think Different’ campaign led to the creation of the Apple Store, and all of Apple’s most popular products, such as the iPhone and iPad.\n\nAnyone who worked with Jobs admitted his methods were unorthodox but effective. Jobs was truly someone with an entrepreneurial mind, constantly thinking up new designs and demanding perfection from and himself and others. As stated by his official biographer, “Dozens of the colleagues whom Jobs most abused ended their litany of horror stories by saying that he got them to do things they never dreamed possible.”","668bcdb0-ed39-40f9-a5bd-1ef7f76f4a5c",[1300],{"id":1301,"data":1302,"type":51,"version":25,"maxContentLevel":21},"958c8033-2c11-4610-bdbf-0363e71b5282",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1303,"multiChoiceCorrect":1305,"multiChoiceIncorrect":1307},[1304],"What was the slogan of the campaign that Jobs used to revive Apple?",[1306],"Think Different",[1308,1309,1310],"Think Big","Think Smart","Think Bold",{"id":1312,"data":1313,"type":26,"version":25,"maxContentLevel":21,"pages":1315},"4c470a39-170b-4fc6-a14a-8018506a3518",{"type":26,"title":1314},"The Evolution of the Internet",[1316],{"id":1317,"data":1318,"type":25,"maxContentLevel":21,"version":25,"reviews":1322},"0a7c097c-34a5-4b9d-a417-93585b9f59ce",{"type":25,"title":1319,"markdownContent":1320,"audioMediaId":1321},"Development of the internet","\nUnlike many inventions over time, there isn’t one single person to credit the invention of the internet to. What was first used as a government weapon to protect the United States from the Soviet Union during the Cold War, eventually turned into what we now know as the World Wide Web.\n\n ![Graph](image://abd332b6-c0c8-44b6-bab7-0dfc311936a6 \"Tim Berners-Lee\")\n\nIn 1991, the internet transformed after computer programmer, Tim Berners-Lee, introduced the World Wide Web for the first time. Instead of just a way to send data and information from one computer to another, it became a place that held information that anyone could obtain.\n\nResearchers from the University of Illinois developed a web browser called ‘Mosaic.’ The World Wide Web is what eventually became the internet we know today. ","c1c881b5-4db4-4b2f-b0b9-d9aa656a3e28",[1323],{"id":1324,"data":1325,"type":51,"version":25,"maxContentLevel":21},"90fc12c6-94ac-43c8-be7b-4c980007fd80",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1326,"clozeWords":1328},[1327],"Tim Berners-Lee introduced the World Wide Web in 1991 and the University of Illinois developed a web browser called Mosaic.",[1329,1330],"1991","Mosaic",{"id":1332,"data":1333,"type":28,"maxContentLevel":21,"version":25,"orbs":1336},"5c42e978-884f-4e04-8288-059298e6bf6e",{"type":28,"title":1334,"tagline":1335},"Entrepreneurs in the 21st Century","21st century entrepreneurs have a lot in common, but there are many types of entrepreneurs, and they all start out with different goals. ",[1337,1389],{"id":1338,"data":1339,"type":26,"version":25,"maxContentLevel":21,"pages":1341},"92e396fb-5712-4a32-b0f2-5a6629836cb4",{"type":26,"title":1340},"Small Business and Start-ups",[1342,1360,1376],{"id":1343,"data":1344,"type":25,"maxContentLevel":21,"version":25,"reviews":1348},"45cb2fc4-4ccf-4792-a1c8-17ecf481c16a",{"type":25,"title":1345,"markdownContent":1346,"audioMediaId":1347},"Small businesses and start-ups ","\nIn modern language, a ‘start-up’ is a business in the early stages of development. These businesses are started by one or two entrepreneurs who take on the full risk of failure and, if the business succeeds, the reward. The costs of a start-up are often high upfront, which is why some look for investors such as venture capitalists. \n\n‘Small business entrepreneurship’ is a type of entrepreneurship where a small business is opened without the intention of starting multiple locations or expanding. Those who start small businesses typically invest their own money instead of needing major investors, and often live off their business’s profit.\n\nA business itself is an organization with the purpose of providing goods or services for profit, although non-profit organizations can function as businesses as well. There are many types of businesses. An LLC, or Limited Liability Company, is a more modern business structure. This business structure keeps the owners of the business from being personally responsible for the debts of the company. \n\n ![Graph](image://80d755c1-428d-43b5-ab31-ad17dc706230 \"A small business will often focus on one location to begin with\")","b78264c9-dbba-4929-9c4a-666654bcd688",[1349],{"id":1350,"data":1351,"type":51,"version":25,"maxContentLevel":21},"f067c7a2-f6d3-449b-906d-b2d902f156c7",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1352,"multiChoiceCorrect":1354,"multiChoiceIncorrect":1356},[1353],"What type of business structure keeps the owners from being personally responsible for the debts of the company?",[1355],"LLC (Limited Liability Company)",[1357,1358,1359],"LLP (Limited Liability Partnership)","C-Corp (Corporation)","S-Corp (Small Business Corporation)",{"id":1361,"data":1362,"type":25,"maxContentLevel":21,"version":25,"reviews":1366},"fb0c1fbf-6947-41d0-a747-00ecc5e15df4",{"type":25,"title":1363,"markdownContent":1364,"audioMediaId":1365},"Types of entrepreneurs","\nEntrepreneurs start businesses of various sizes and are responsible for bringing new ideas and innovations to every economy. But not all entrepreneurs are created equal, and there are many different types of entrepreneurs.\n\nThe type of entrepreneur a person becomes depends mainly on their goals. One example is an innovator. An innovator is the type of entrepreneur skilled at coming up with unique ideas and implementing them in a way that hasn’t been thought of before.\n\nSome examples of innovators are Thomas Edison, Steve Jobs, and Mark Zuckerberg. Thomas Edison is most well-known for the invention of the lightbulb, but he was also a skilled entrepreneur. Edison spent many years in the telegraph industry, and much of the entrepreneurial work he did stemmed from his experience there. By the end of his life, Edison owned numerous businesses in industries from cement to phonographs.\n\n\n ![Graph](image://aff6dea1-da48-4a15-bd91-e0152ce67271 \"Thomas Edison\")","30945ed6-b038-48ef-ac65-416c82ac68a1",[1367],{"id":1368,"data":1369,"type":51,"version":25,"maxContentLevel":21},"e3632b06-908a-4f4a-b7a9-8fb884cec96d",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1370,"binaryCorrect":1372,"binaryIncorrect":1374},[1371],"What type of entrepreneur is skilled at coming up with unique ideas and implementing them in a way that hasn't been thought of before?",[1373],"Innovator",[1375],"Investor",{"id":1377,"data":1378,"type":25,"maxContentLevel":21,"version":25,"reviews":1382},"78a1c4bf-3174-448c-8962-e5c190747b3f",{"type":25,"title":1379,"markdownContent":1380,"audioMediaId":1381},"Social entrepreneurs","\nNot all entrepreneurs work to improve society or impact social change in the world. Certainly, there is an aspect of entrepreneurship that is intended for personal gain. It would be difficult for many of the world-famous entrepreneurs to push as many boundaries as they did without the motivation of profit.\n\nSocial entrepreneurs, however, are entrepreneurs who focus specifically on business opportunities that have a positive impact on society whether globally or in their local community. This doesn’t mean there isn’t a profit involved for the entrepreneur. Unlike a non-profit organization, a business founded by a social entrepreneur attempts to gain a profit while also making a difference. Although there are many businesses who do make an impact in this way, there are also for-profit businessmen who attempt to claim the title of social entrepreneurship in an attempt to gain a larger profit.\n","69b405e2-a378-46c8-8b06-da89285a3eab",[1383],{"id":1384,"data":1385,"type":51,"version":25,"maxContentLevel":21},"93cf5824-0d58-4ca5-b5ba-379fe20dad44",{"type":51,"reviewType":25,"spacingBehaviour":25,"activeRecallQuestion":1386,"activeRecallAnswers":1388},[1387],"What is the term used for entrepreneurs who focus on business opportunities that have a positive impact on society?",[1379],{"id":1390,"data":1391,"type":26,"version":25,"maxContentLevel":21,"pages":1393},"669aea29-436b-46bb-8436-29c890a174e0",{"type":26,"title":1392},"Social Entrepreneurship",[1394,1418,1434],{"id":1395,"data":1396,"type":25,"maxContentLevel":21,"version":25,"reviews":1400},"8f0bdb97-387c-4f9c-b5ee-909c1ec3dcfe",{"type":25,"title":1397,"markdownContent":1398,"audioMediaId":1399},"One-for-one Social Entrepreneurship","\nTOMS was one of the first companies to popularize social entrepreneurship. TOMS founder Blake Mycoskie says the idea for TOMS shoes came to him while traveling in Argentina. After meeting an American woman helping out at a shoe drive for children, he saw a need for underprivileged kids. Out of this experience, TOMS, originally named 'Shoes for Better Tomorrows,’ was created.\n\nTOMS has a one-for-one model to address the need Mycoskie saw. For every pair of shoes purchased, TOMS donates a pair to someone in need. As of 2020, 100,000,000 pairs of shoes have been donated. In 2021, TOMS began donating ⅓ of their profits to grassroots organizations working to improve their communities.\n\n\n ![Graph](image://b6a26407-20f3-497b-b41a-65a47243b556 \"TOMS founder Blake Mycoskie. Image: Ed Schipul, CC BY-SA 2.0, via Wikimedia Commons\")","d6a7c9e9-eac8-4e3a-9923-4f02be136b8f",[1401,1410],{"id":1402,"data":1403,"type":51,"version":25,"maxContentLevel":21},"3db7f07d-6791-45de-90a1-27fe30fc8aae",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1404,"binaryCorrect":1406,"binaryIncorrect":1408},[1405],"How many pairs of shoes has TOMS donated as of 2020?",[1407],"100,000,000",[1409],"10,000,000",{"id":1411,"data":1412,"type":51,"version":25,"maxContentLevel":21},"7e9dfa2c-9939-40df-8af8-429f56ed76eb",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1413,"clozeWords":1415},[1414],"TOMS has a one-for-one model where they donate one pair of shoes for every pair purchased, and ⅓ of their profits to grassroots organizations.",[1416,1417],"one","grassroots",{"id":1419,"data":1420,"type":25,"maxContentLevel":21,"version":25,"reviews":1424},"d3bdc21e-1bee-4529-aaa6-7607cd0e729e",{"type":25,"title":1421,"markdownContent":1422,"audioMediaId":1423},"Key entrepreneur: Mark Zuckerberg","\nMark Zuckerberg is known mostly for co-founding the social media site, Facebook, but creating Facebook wasn’t the first time Zuckerberg used his entrepreneurial side to innovate. In fact, he had been writing software since junior high. By the time he started school at Harvard, he was already known for his programming skills.\n\nFacebook originally began as a site for Harvard students. It later expanded to other colleges and was eventually opened to all. By 2012, Facebook had one billion users. But the controlled growth and expansion of Facebook was not a coincidence, and the decision to gradually open up the site is what contributed to Zuckerberg’s success.\n\nFacebook launched in 2004 but wasn’t open to everyone until 2006. The gradual growth of the social media site led to increasing interest from both potential users and investors. By the time Zuckerberg created Facebook, many social media sites had already come before, but Facebook was able to avoid some of the technical issues other sites faced by restricting its users in the beginning stages and focusing on building a reliable infrastructure. \n\n\n ![Graph](image://7aac0d0f-d3dc-4ec3-9a34-83cb2ec77b52 \"Mark Zuckerberg\")","a29d853e-c175-45d7-856b-363f6d9461d5",[1425],{"id":1426,"data":1427,"type":51,"version":25,"maxContentLevel":21},"69d6e04b-c7db-47bb-8ec7-060c3e997458",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1428,"binaryCorrect":1430,"binaryIncorrect":1432},[1429],"When did Facebook become open to everyone?",[1431],"2006",[1433],"2004",{"id":1435,"data":1436,"type":25,"maxContentLevel":21,"version":25,"reviews":1440},"7f7187b3-46cc-4c3e-b914-b4c74a665870",{"type":25,"title":1437,"markdownContent":1438,"audioMediaId":1439},"Key entrepreneur: Elon Musk","\nIn 2022, Elon Musk became the wealthiest person in the world, according to the Forbes Billionaires List. But even though he started coming up with unique ideas from a young age, his success didn’t happen overnight.\n\nFrom 1995 to the modern day, Elon Musk co-founded X.com, which later became Paypal, founded SpaceX, became the chairman of Tesla, and founded the Boring Company. Throughout his career, what has made Musk a successful entrepreneur is his drive to continuously innovate and strive for greater opportunities.\n\nMusk’s first startup was Zip2, earning him over $20 million before the age of 30. But he took his earnings and invested them in his next project, X.com. With each new project, Musk came up with solutions to questions about financial services, transportation, and space travel. But if he had not invested his money wisely throughout his career, most of his life’s work wouldn’t exist.\n\n\n ![Graph](image://12f56924-f5f5-4f37-8cd7-46d6643465b8 \"Elon Musk. Image: By The Royal Society, CC BY-SA 3.0, via Wikimedia Commons\")","eb3ec915-7a5e-478c-a775-30e084412a0f",[1441],{"id":1442,"data":1443,"type":51,"version":25,"maxContentLevel":21},"3743fd54-540e-4b01-9466-fc691410a45a",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1444,"binaryCorrect":1446,"binaryIncorrect":1448},[1445],"What was Elon Musk's first startup, which earned him over $20 million before the age of 30?",[1447],"Zip2",[1449],"Paypal",{"id":1451,"data":1452,"type":28,"maxContentLevel":21,"version":25,"orbs":1455},"54649ae1-85e4-43dd-9796-7f7d30ce5481",{"type":28,"title":1453,"tagline":1454},"The Future of Entrepreneurship","What lies ahead for the entrepreneurs of the world? Younger generations are starting to look for alternatives to the standard 9 to 5 jobs, and entrepreneurship seems like a viable option. ",[1456,1507],{"id":1457,"data":1458,"type":26,"version":25,"maxContentLevel":21,"pages":1459},"8b7ea9c4-10a2-427d-b502-e9464424690a",{"type":26,"title":158},[1460,1476,1492],{"id":1461,"data":1462,"type":25,"maxContentLevel":21,"version":25,"reviews":1466},"bb07452c-d409-4043-bc29-fad961fbd6a3",{"type":25,"title":1463,"markdownContent":1464,"audioMediaId":1465},"Where entrepreneurs started to where they are now","\nWhat do entrepreneurs from all time periods have in common? All entrepreneurs, no matter how they start, fail at some point, but successful entrepreneurs don’t stop after the first failure. In fact, entrepreneurs are much more likely to be successful on their second project. Unfortunately, one study showed that 71% of failed entrepreneurs chose not to try again.\n\nEntrepreneurs are not just people who own a business - they are people with a vision. Even with all the technological advances in the modern world, being an entrepreneur is not an easy task. Competing with everyone else across the globe makes it challenging to be successful, no matter how many unique ideas you may have.\n\nBut despite these challenges, entrepreneurs throughout history have shaped the economy and the world. From merchants to farmers to technology developers, entrepreneurs have come a long way from their beginning.\n","8e8e1771-1545-4f70-a0ab-0d15810378e7",[1467],{"id":1468,"data":1469,"type":51,"version":25,"maxContentLevel":21},"147d8cb7-a171-4d05-9f5f-ef16c7cd0089",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1470,"binaryCorrect":1472,"binaryIncorrect":1474},[1471],"What percentage of failed entrepreneurs chose not to try again?",[1473],"71%",[1475],"51%",{"id":1477,"data":1478,"type":25,"maxContentLevel":21,"version":25,"reviews":1482},"c13fc5b3-d81e-4955-ae86-69fd39ec5351",{"type":25,"title":1479,"markdownContent":1480,"audioMediaId":1481},"The why behind entrepreneurship ","\nEntrepreneurs often start as people with a lot of really good ideas. Whether they’re interested in automobiles, technology, or fast food chains, entrepreneurs always have a vision. There are certain entrepreneurs, such as social entrepreneurs, who aim to make a difference in the world by doing good.\n\nBut most successful entrepreneurs start because they want to shape the future and make a profit. Even the most altruistic entrepreneurs often have wealth in mind. It’s no surprise that entrepreneurs frequently end up on the list of wealthiest people.\n\nA study by Wealth-X examined the world’s wealthiest people - those whose net worth was at least $30 million. Their study found that almost 68% were self-made and that only 8.5% inherited their wealth. The remaining 23.7% had a combination of the 2. Those who succeed financially across the globe are people who innovate and find ways to create their own businesses or take over businesses to make them successful. ","2c892e00-f1db-481b-ba87-4bc6e0a69950",[1483],{"id":1484,"data":1485,"type":51,"version":25,"maxContentLevel":21},"3dc375d0-3355-47b4-a1f8-12f45c700f73",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1486,"binaryCorrect":1488,"binaryIncorrect":1490},[1487],"What percentage of the world's wealthiest people are self-made, according to a study by Wealth-X?",[1489],"68%",[1491],"8.50%",{"id":1493,"data":1494,"type":25,"maxContentLevel":21,"version":25,"reviews":1498},"30a588cc-27a6-4e65-9dcd-64f6f9c29035",{"type":25,"title":1495,"markdownContent":1496,"audioMediaId":1497},"The growing interest in entrepreneurship","\nThe interest in entrepreneurship as a career path is growing, especially for those in the younger generations. For many years, salaried office jobs were the norm for college students after graduation. But especially after the COVID-19 pandemic, remote work has become more prevalent, with over 61% of workers choosing to work remotely. Young people are looking for more control over their schedules and lives. \n\n ![Graph](image://b26aa091-85fb-4cff-a06c-696adaab4411 \"A young person in an office job\")\n\nA survey done by consulting firm PwC surveyed over 44,000 millennials on the topic of work. 71% of millennials stated work demands interfere with their personal lives and 66% wanted more flexibility in their work hours. According to a Pew Research Poll, 64% of adults working from home said remote work has made it easier to balance their work and personal life.\n\nWith advancements in technology and information easily accessible for anyone, the possibility of becoming an entrepreneur seems more attainable than ever before. Many members of Generation Z are looking towards those who have already crossed the path before them as entrepreneurs to be able to learn from those who have wisdom on the subject. \n","31e635cc-bd76-4913-9ed5-ac3bc4e08c48",[1499],{"id":1500,"data":1501,"type":51,"version":25,"maxContentLevel":21},"98d89b23-1db8-4463-a9b7-f0a66deb0a3c",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1502,"binaryCorrect":1504,"binaryIncorrect":1505},[1503],"What percentage of millennials surveyed by PwC stated that work demands interfere with their personal lives?",[1473],[1506],"64%",{"id":1508,"data":1509,"type":26,"version":25,"maxContentLevel":21,"pages":1511},"d5db20ff-d5ab-41aa-9429-ddc5006ad8bd",{"type":26,"title":1510},"The Digital Age of Entrepreneurship",[1512,1526,1542],{"id":1513,"data":1514,"type":25,"maxContentLevel":21,"version":25,"reviews":1518},"0b1b5bf0-17ce-40a8-921d-b4a4dd95d494",{"type":25,"title":1515,"markdownContent":1516,"audioMediaId":1517},"Digital trends","\nThe future of careers, in general, is rooted in digital technology, and entrepreneurship is no different. Digital trends have made it easier, and more affordable, to become an entrepreneur. Due to the rise in technology, digital entrepreneurship has continued to grow. \n\nDigital entrepreneurship includes entrepreneurial opportunities created through digital platforms, and in recent years, these opportunities have continued to grow. Easy access to technology, such as a laptop, is one reason why entrepreneurship is more accessible today. According to the U.S. Census Bureau, from July to September 2020, there were over a million new business applications submitted.\n\nAccording to a survey by Yelp, the number of business closures continue to rise, with over 160,000 businesses closing in 2020 alone. But the number of businesses that closed after the start of the COVID-19 Pandemic has created more opportunities for new business owners. \n\nWith an increase in remote and hybrid work, and digital marketing available for free through social media, it has never been more accessible or affordable to start an online business.\n","3f120337-630b-4787-b5ff-8a501e6a0f0b",[1519],{"id":1520,"data":1521,"type":51,"version":25,"maxContentLevel":21},"35befd00-adf9-43af-ac1f-2d5abefea69b",{"type":51,"reviewType":70,"spacingBehaviour":25,"clozeQuestion":1522,"clozeWords":1524},[1523],"Remote work has made entrepreneurship more accessible for many.",[1525],"Remote work",{"id":1527,"data":1528,"type":25,"maxContentLevel":21,"version":25,"reviews":1532},"87d111be-d1cf-4766-9cd8-01a7a163c24c",{"type":25,"title":1529,"markdownContent":1530,"audioMediaId":1531},"E-commerce","\nShort for electronic commerce, ‘e-commerce’ is another reason why it has become possible for many people to become entrepreneurs in the digital world. E-commerce is any online activity that involves purchasing products or services.\n\nEver since the Digital Age, e-commerce has been on the rise. In the modern world, online shopping is replacing in-person shopping in many cases. One of the biggest benefits to e-commerce that keeps customers coming back to it is convenience. In a time when many workers are either fully remote or working hybrid, having your products delivered right to your door is much easier than having to go to a store to purchase something.\n\nThere are many benefits to the entrepreneur as well, one of them being passive income. While in a physical store, the owner only makes a profit when someone walks in and makes a purchase, with online shopping, the owner can actually make money off products while they’re asleep.\n","d0929dd1-c5f3-49d5-82a4-68cfbddd006f",[1533],{"id":1534,"data":1535,"type":51,"version":25,"maxContentLevel":21},"8a23a671-b8bb-4435-b7a9-f1ad5d9dc82e",{"type":51,"reviewType":26,"spacingBehaviour":25,"binaryQuestion":1536,"binaryCorrect":1538,"binaryIncorrect":1540},[1537],"What is the main benefit of e-commerce for customers?",[1539],"Convenience",[1541],"Variety",{"id":1543,"data":1544,"type":25,"maxContentLevel":21,"version":25,"reviews":1548},"e9a2645a-5c20-4de0-8887-7618e5b80acc",{"type":25,"title":1545,"markdownContent":1546,"audioMediaId":1547},"Modern leaders in entrepreneurship","\nEntrepreneurship in the modern world has continued to grow with advancements in technology. It’s challenging to predict what the future of entrepreneurship will look like in the next 50 to one hundred years. But as time goes on, the business leaders of the world change, as well.\n\n ![Graph](image://a6e3f894-32d1-46cb-9747-68b1fe42ef99 \"Jack Ma. Image: World Economic Forum, CC BY 2.0, via Wikimedia Commons\")\n\nFor example, Tim Cook is someone to look out for in the business world, as he became the CEO of Apple after the death of Steve Jobs. Or Jack Ma, who was the first Chinese entrepreneur featured on the cover of Forbes Magazine.\n\nEntrepreneurs have the benefit of working for themselves, but entrepreneurial leaders have to develop a clear vision and be able to clearly communicate their vision to their team. One way entrepreneurial leaders motivate others is by sharing their success. When their business or organization succeeds, they acknowledge the work of others.\n\nHistory tells us that entrepreneurs dramatically impact the economy and help shape society. Without people like Thomas Edison, Henry Ford, Steve Jobs, and Mark Zuckerberg, the modern world would look very different.","5bbbc249-5f3d-4947-a142-55eef1aa4b05",[1549],{"id":1550,"data":1551,"type":51,"version":25,"maxContentLevel":21},"d61b68b5-d53f-4503-b552-7457e70de33b",{"type":51,"reviewType":21,"spacingBehaviour":25,"multiChoiceQuestion":1552,"multiChoiceCorrect":1554,"multiChoiceIncorrect":1556},[1553],"Who was the first Chinese entrepreneur featured on the cover of Forbes Magazine?",[1555],"Jack Ma",[1557,1558,1559],"Liu Chuanzhi","Liu Qiangdong","Ma Huateng",{"left":4,"top":4,"width":1561,"height":1561,"rotate":4,"vFlip":6,"hFlip":6,"body":1562},24,"\u003Cpath fill=\"none\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"m9 18l6-6l-6-6\"/>",{"left":4,"top":4,"width":1561,"height":1561,"rotate":4,"vFlip":6,"hFlip":6,"body":1564},"\u003Cg fill=\"none\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\">\u003Cpath d=\"M12.586 2.586A2 2 0 0 0 11.172 2H4a2 2 0 0 0-2 2v7.172a2 2 0 0 0 .586 1.414l8.704 8.704a2.426 2.426 0 0 0 3.42 0l6.58-6.58a2.426 2.426 0 0 0 0-3.42z\"/>\u003Ccircle cx=\"7.5\" cy=\"7.5\" r=\".5\" fill=\"currentColor\"/>\u003C/g>",1778179468530]