Business history is the study of how businesses have evolved over time, examining their development, practices, and impact on society. It explores key events, trends, and innovations that have shaped industries, such as the rise of the Industrial Revolution and the emergence of globalization. This field also looks at influential figures, like Andrew Carnegie and Henry Ford, who transformed business models and practices. By analyzing these elements, business history provides insights into current economic systems and helps understand the challenges and opportunities faced by businesses today.