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 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.
(a) $250,000.
(b) $2.5 million.
(c) $25,000.
(d) $2,500.

2. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.
(a) Thirty.
(b) Twenty-five.
(c) Twenty.
(d) Forty.

3. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?
(a) Confidence.
(b) Education.
(c) Intelligence.
(d) A sense of humor.

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. The partners want Frick to exercise power without Carnegie. Why?
(a) He is more trustworthy than Carnegie.
(b) He has good ideas for growth in the company.
(c) He is easier to manipulate than Carnegie.
(d) He is more likely to keep wage costs down.

Short Answer Questions

1. Frick's first acquisition is _____________, which is the most modern steel mill and keeps the Carnegie Company at the forefront.

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

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

4. They make a deal that is considered what?

5. Carnegie is praised by labor leaders and Frick is considered _____________.

Short Essay Questions

1. Describe Carnegie's partners at this time.

2. Describe Captain Bill Jones' management of labor.

3. 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.

4. What does Frick's chairmanship mark?

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

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

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

8. What does Schwab do for the business?

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

10. What happens when Carnegie goes to Scotland?

(see the answer keys)

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