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"a steel-making process, now largely superseded, in which carbon, silicon, and other impurities are removed from molten pig iron by oxidation in a blast of air in a special tilting retort."

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While manufacturing and factories were becoming more popularized, the steel energy become a new major industry because of the bessemer process. This was because in 1855, Henry Bessemer created a new process to convert iron into steel, which more workers preferred to build with steel.

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"The acquisition of a business operating at the same level of the value chain in the same industry"

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As businesses began to become bigger and into larger franchises they wanted to capitalize on the attention by expanding through horizontal integration. This allowed them to bring multiple joints into their franchise to get more business.

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"Firms expand into upstream or downstream activities, which are at different stages of production."

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This was during the same time period as horizontal integration, vertical integration was also used as a form for businesses to expand their businesses but in contrast to horizontal integration, they would take control of all processes of creating the product rather than just one.

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"abstention by governments from interfering in the workings of the free market."

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During this time period, following America becoming a free country, many people still favored the Laissez-faire economy which kept the government from interfering with the people and their businesses.

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"The theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals."

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This was another popular ideology at the same time as the Laissez-faire concept was popular, it had similar ideas in the sense where they both tended to shy away from government involvement in business, but in social darwinism it was believed that the businesses that would survive were the ones being run by the best and most capable.

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"first legislation enacted by the U.S. Congress (1890) to curb concentrations of power that interfere with trade and reduce economic competition."

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This act was put into place after businesses began to multiply their trusts and monopolies to the point where they continuously were growing, which gave the people concerns for smaller businesses.