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) Sell the business.
(b) Make large changes in the business.
(c) Expand the business.
(d) Buy new businesses.

2. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.
(a) 1880.
(b) 1874.
(c) 1876.
(d) 1878.

3. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.
(a) At the Allegheny.
(b) At the Monongahela.
(c) At the Ohio River.
(d) At the Potomac.

4. Frick's chairmanship of the Carnegie Company marks a difficult period in its history starting with what strike in 1892 and a four year depression from 1893.
(a) Postal Worker's Strike.
(b) UPS Workers Strike.
(c) The Homestead Strike.
(d) The Pullman Strike.

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

Short Answer Questions

1. Corruption in construction of the Union Pacific Railroad is exposed with what scandal where congressmen get railroad stock to misuse public funds?

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

3. Carnegie's labor guidelines and Captain Bill's implementation works well until 1889 when what happens to Bill?

4. Carnegie organizes a partnership with business associates and colleagues that are confident of his success to do what?

5. Carnegie corrects this deficiency by integrating _______________________.

Short Essay Questions

1. What does Schwab do for the business?

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

3. How does Carnegie benefit from cutting costs?

4. Why does Carnegie hire Alexander Holley?

5. Describe Carnegie's replacement of equipment.

6. What does Carnegie do between 1872 and 1889?

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

8. What is a second dimension necessary to effect this integration?

9. Describe the firm and the new mill.

10. Describe Carnegie's partners at this time.

(see the answer keys)

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