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. Americans in the North have how many years of peace and prosperity as they begin to exploit American markets?
(a) Seven.
(b) Ten.
(c) Eight.
(d) Nine.

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

3. William Coleman also shares Carnegie's interest and enthusiasm in what?
(a) Steel.
(b) Retail.
(c) Technology.
(d) Oil.

4. The industrial economy is crippled with some __________________ firms failing over six years.
(a) 1,200.
(b) 120.
(c) 12,000.
(d) 5,000.

5. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
(a) Many.
(b) Quite a few.
(c) Few.
(d) Hundreds of.

Short Answer Questions

1. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.

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

3. This approach introduces ______________ into pricing and a methodology for investment planning.

4. Carnegie contributes __________ of the partnership total $741,000 in original capital to the firm he names "Carnegie, McCandless and Company" and names the mill "Edgar Thomson Works" (ET) for the first president of Pennsylvania Railroad.

5. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.

Short Essay Questions

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

2. Who is Homestead? How does Carnegie deal with Homestead?

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

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

5. What happens when Carnegie goes to Scotland?

6. Why does Andrew not help Tom Scott? What are the effects of this decision?

7. Describe Carnegie's replacement of equipment.

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

9. What does Schwab do for the business?

10. Describe Captain Bill Jones' management of labor.

(see the answer keys)

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