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

2. 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) Tens of thousands.
(b) Tens of billions.
(c) Tens of millions.
(d) Hundreds.

3. Carnegie promotes expanding with other Pennsylvania-controlled franchises through Scott and assures construction in his contracting business by bartering Pacific stock for construction costs with ___________ exchange rates.
(a) 3 and 4 to one.
(b) 2 and 4 to one.
(c) 5 and 7 to one.
(d) 3 and 5 to one.

4. Andrew succeeds in the mastery of what business techniques?
(a) New World.
(b) Old World.
(c) His friend's.
(d) His parent's.

5. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.
(a) $334 million.
(b) $3 billion.
(c) $34,000.
(d) $3.4 milion.

Short Answer Questions

1. 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 __________________.

2. Whose pioneering skills in management are codified in his "Book of Rules and the Employees' Timetable?"

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

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

5. With whom does Carnegie form Columbia Oil Company?

Short Essay Questions

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

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

3. Describe the Columbia Oil Company.

4. How does Andrew escape the textile mills?

5. How is Pittsburgh important at this time?

6. By what is this dream not diminished?

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

8. How is Carnegie cautious in his investments? How might this help him throughout his career?

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

10. Describe the Pennsylvania Railroad in 1865.

(see the answer keys)

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