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

2. In __________, Carnegie has the most modern operation.
(a) 1878.
(b) 1875.
(c) 1880.
(d) 1879.

3. Carnegie leases the iron ore properties from this man. Why?
(a) To keep him happy.
(b) To make him a partner.
(c) To retire slowly from the industry.
(d) To keep him out of the steel business.

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

5. From 1872 through ________, Carnegie builds an integrated industrial business to become the best-known manufacturer in the world, publishes three books, travels around the world, and becomes a philanthropist with the express intent to give away his fortune.
(a) 1899.
(b) 1879.
(c) 1889.
(d) 1909.

Short Answer Questions

1. The partners want Frick to exercise power without Carnegie. Why?

2. After this steel company's acquisition for _____ million bonds, Frick restructures all the related companies with Carnegie Steel Company, Limited taking over assets of Carnegie Brothers and Carnegie Phipps with a $25 million capital base, distributing to Carnegie 55 percent, Frick and Phipps both 11 percent each, 1 percent each to nineteen partners and 4 percent reserve for key staff.

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

4. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.

5. Rich and poor are impacted when even Tom Scott faces ruin and disgrace from Texas Pacific Railroad default unless what happens?

Short Essay Questions

1. Why does Carnegie hire Alexander Holley?

2. Describe Carnegie's replacement of equipment.

3. What does Carnegie do between 1872 and 1889?

4. Describe Captain Bill Jones' management of labor.

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

6. Describe Duqesne Steel.

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

8. How does Carnegie benefit from cutting costs?

9. 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.

10. Describe American steel companies between 1870 and 1900.

(see the answer keys)

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