https://padlet.com/ibolton/2edby22367em6gij Key Terms en-us 2020-09-14 22:27:23 UTC 2020-09-15 01:24:18 UTC hello@padlet.com https://padlet.net/icons/png/1f6a2.png ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746118209 "a steel-making process, now largely superseded, in which carbon, silicon, and other impurities are removed from molten pig iron by oxidation in a blast of air in a special tilting retort."]]> 2020-09-15 00:14:36 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746118209 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746119625 2020-09-15 00:15:23 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746119625 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746119716 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.]]> 2020-09-15 00:15:26 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746119716 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746140022 "The acquisition of a business operating at the same level of the value chain in the same industry"]]> 2020-09-15 00:23:18 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746140022 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746144809 2020-09-15 00:25:27 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746144809 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746153736 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.]]> 2020-09-15 00:29:28 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746153736 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746195812 "Firms expand into upstream or downstream activities, which are at different stages of production."]]> 2020-09-15 00:46:43 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746195812 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746198233 2020-09-15 00:47:45 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746198233 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746198412 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.]]> 2020-09-15 00:47:50 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746198412 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746206636 "abstention by governments from interfering in the workings of the free market."]]> 2020-09-15 00:51:01 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746206636 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746209945 2020-09-15 00:52:25 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746209945 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746210197 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.]]> 2020-09-15 00:52:31 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746210197 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746224492 "The theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals."]]> 2020-09-15 00:59:03 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746224492 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746243593 2020-09-15 01:08:36 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746243593 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746243825 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.]]> 2020-09-15 01:08:42 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746243825 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746262790 "first legislation enacted by the U.S. Congress (1890) to curb concentrations of power that interfere with trade and reduce economic competition."]]> 2020-09-15 01:17:20 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746262790 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746272816 2020-09-15 01:21:33 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746272816 ibolton https://padlet.com/ibolton/2edby22367em6gij/wish/746273064 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.]]> 2020-09-15 01:21:40 UTC https://padlet.com/ibolton/2edby22367em6gij/wish/746273064