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) 50.
(b) 20.
(c) 40.
(d) 30.

2. Andrew's opportunity to escape the coal and oil of textile mills comes through _________ asking him to become a messenger boy with a telegraph company in Pittsburgh.
(a) His Uncle Heathe.
(b) His Uncle Henry.
(c) His Uncle Harold.
(d) His Uncle Hogan.

3. It is _______________ private business firm in the world and is called "the standard railroad of the world."
(a) One of the smallest.
(b) The largest.
(c) The smallest.
(d) One of the largest.

4. How many people immigrate from the Old to the New World to embed the dream into an image of America far stronger than the success of a few like the Guggenheims and Vanderbilts?
(a) Hundreds.
(b) Tens of thousands.
(c) Tens of millions.
(d) Tens of billions.

5. He forms an informal investing ____________ with Thomson and Scott.
(a) Triumvirate.
(b) Quintumvirate.
(c) Duumvirate.
(d) Quadrumvirate.

Short Answer Questions

1. Carnegie perfects business techniques to transform an iron and steel industry comprised of many small producers into what for the first time?

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

3. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?

4. Carnegie meets John Piper in 1856 in order to build _______ bridges, instead of wooden bridges that can be set afire from locomotive sparks and are not cost-effective beyond a certain span and load factor.

5. Scott leaves Carnegie in charge when he does what?

Short Essay Questions

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

2. What does Andrew do from 1867 through 1872?

3. What does Daniel McCallum offer those in management?

4. 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.

5. What happens within two years of arriving in America?

6. What does Carnegie learn at the Pennsylvania Railroad?

7. What characterizes America? To what does this refer?

8. Describe the Columbia Oil Company.

9. Give an example of when Carnegie meets railroad's customers and initiates control of division operations when needed.

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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