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. Scott and Thomson hold stock in Carnegie's name for what reason?
(a) Carnegie is very well-known and trusted.
(b) Carnegie will not allow them to hold stock in anyone else's name.
(c) To avoid impropriety for Carnegie's one-eighth interest.
(d) They are afraid to hold stock in their own.

2. With whom does Carnegie form Columbia Oil Company?
(a) William Coleman.
(b) Wilson Coleman.
(c) Willard Coleman.
(d) Wallece Coleman.

3. Within _______ years of arriving in America, the Carnegies recoup their fortune through the help of their friends, relatives, and countrymen in America and earn more income that they ever received in Scotland.
(a) Eight.
(b) Six.
(c) Four.
(d) Two.

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

5. Carnegie uses $11,000 in Woodruff dividends to buy 1,100 shares that pay $17,800 in their first year and eventually over _________ dollars.
(a) A thousand.
(b) Two hundred thousand.
(c) A million.
(d) Two million.

Short Answer Questions

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

2. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.

3. In 1863, his investments pay $45,460 and by 1868, he receives __________ per year for an investment of $817 that he borrows to make.

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

5. Railroads link Pittsburgh to the Atlantic coast and eventually to the Pacific coast, with the _______________ the best of them all.

Short Essay Questions

1. What agreement is made between the triumvirate and James L. Shaw?

2. How does Carnegie determine he can profit from the boom in telegraphy?

3. What are the jobs of the railroad managers?

4. 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.

5. Describe Carnegie's rise in business by 1865.

6. Why do the Carnegies leave Scotland?

7. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

8. Describe Carnegie's investment in Keystone Bridge Company.

9. How does industry benefit from Carnegie?

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

(see the answer keys)

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