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. Carnegie feels confident enough in 1870 to do what?
(a) Make large changes in the business.
(b) Expand the business.
(c) Buy new businesses.
(d) Sell the business.

2. Carnegie progresses from rolling rail to rolling structural beams and angles for bridges, skyscrapers, and ________________.
(a) Businesses.
(b) Homes.
(c) Elevated railroads.
(d) Apartments.

3. They make a deal that is considered what?
(a) A poor decision.
(b) Carnegie's most surprising decisions.
(c) Carnegie's least important achievement.
(d) Carnegie's greatest achievement.

4. What firms are formed and the Gilded Age develops in New York?
(a) Restaurants and fast food chains.
(b) Retail and mercantile.
(c) Bank and credit unions.
(d) Technology and communication.

5. What problems does this steel company have?
(a) Supply and labor problems.
(b) Labor and capital problems.
(c) Management and organization problems.
(d) Financial and policy problems.

Short Answer Questions

1. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.

2. Small firms operate iron furnaces to smelt ore into _______ iron.

3. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?

4. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.

5. He follows a policy of putting all his eggs in the same basket and doing what?

Short Essay Questions

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

2. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?

3. Describe Duqesne Steel.

4. Describe the economic collapse. How are Carnegie and others affected by it?

5. Describe Carnegie's partners at this time.

6. Describe the firm and the new mill.

7. What causes the 1893 depression? What does Carnegie do at this time?

8. What does Schwab do for the business?

9. How is Rockefeller involved in Carnegie's business?

10. What venture is formed between Tom Miller and Carnegie?

(see the answer keys)

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