Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Medium

Harold C. Livesay
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.
(a) 40.
(b) 20.
(c) 50.
(d) 30.

2. In 1856, Scott advises him to buy what company as his first stock investment?
(a) Anthony Express Company.
(b) Adams Express Company.
(c) Amos Express Company.
(d) Aaron Express Company.

3. In 1849 when he takes the job, Carnegie is at the beginning of a period when capital, manpower and technology in the United States transitions from __________________.
(a) A new industrial world to an old agricultural world.
(b) An old agricultural to a new industrial world.
(c) An old industrial to a new agricultural world.
(d) An old hunter and gatherer society to a new agricultural world.

4. Carnegie perfects business techniques to transform an iron and steel industry comprised of many small producers into what for the first time?
(a) No business.
(b) Small business.
(c) Big business.
(d) Government-controlled business.

5. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?
(a) Sail from Spain with fellow Spanish passengers.
(b) Sail from Great Britain with fellow Irish passengers.
(c) Sail from Great Britain with fellow Scottish passengers.
(d) Sail from France with fellow French passengers.

Short Answer Questions

1. Carnegie uses $11,000 in Woodruff dividends to buy 1,100 shares that pay $17,800 in their first year and eventually over _________ dollars.

2. Scott and Thomson like the Woodruff Sleeping Car Company that owns patents in 1858 but lacks what?

3. The business is _______________ with conductors and station agents collecting millions in small coin revenue.

4. Carnegie rises from bobbin boy at __________ per week in 1850 to railroad superintendent at $2,400 per year in 1865.

5. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?

Short Essay Questions

1. What does Carnegie do when Pacific dividend payments stop?

2. Why do the Carnegies leave Scotland?

3. What happens on July 15, 1848?

4. Describe the informal investing triumvirate Carnegie formed with Thomson and Scott.

5. How does Andrew escape the textile mills?

6. How do family members and friends help immigrants? How is Carnegie's family helped?

7. Who is George M. Pullman? How do he and Carnegie become involved in business together?

8. What does Daniel McCallum offer those in management?

9. How is Pittsburgh important at this time?

10. Give an example of how the size and complexity of a railroad business requires creation of bureaucratic organization, structure, and policy to fit the needs.

(see the answer keys)

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