Andrew Carnegie and the Rise of Big Business Test | Final 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. Tom Miller is a _________ man who forms joint ventures with Carnegie in several small investments. They form Freedom Iron Company of Lewiston Pennsylvania in 1861 that Carnegie restructures into Freedom Iron and Steel to retool for the Bessemer process in 1866.
(a) Industrial.
(b) Technology.
(c) Railroad.
(d) Automobile.

2. Carnegie corrects this deficiency by integrating _______________________.
(a) Pullman and Woodruff.
(b) Sun Oil and US Oil.
(c) Keystone Bridge and Union Iron.
(d) Pennsylvania Railroad with Pacific Union.

3. Carnegie organizes a partnership with business associates and colleagues that are confident of his success to do what?
(a) Raise capital.
(b) Lower capital.
(c) Find capital.
(d) Stabilize capital.

4. Their deal demonstrates the power of what?
(a) Strength.
(b) Intelligence.
(c) Ingenuity.
(d) Size.

5. A second dimension necessary to effect this integration is the implementation of what system?
(a) Benefits.
(b) Democratic.
(c) Accountability.
(d) Welfare.

Short Answer Questions

1. Carnegie follows the successful path of building through a depression and lack of customers by ________________.

2. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.

3. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?

4. Beginning in 1872, Carnegie focuses on the single project of his steel-rail rolling mill that is completed in _________.

5. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.

Short Essay Questions

1. Carnegie's interest and insistence on cost-cutting leads him into more complex areas of manufacturing detail composition and chemistry. Give an example of this.

2. Describe Carnegie's partners at this time.

3. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

4. What does Carnegie do between 1872 and 1889?

5. Describe American steel companies between 1870 and 1900.

6. Describe the firm and the new mill.

7. Why does Carnegie hire Alexander Holley?

8. Describe the seven years of peace and prosperity in the North.

9. What happens when Carnegie goes to Scotland?

10. What does the entrepreneurial Carnegie begin in 1872? Describe his work at this time.

(see the answer keys)

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