|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. Productive staff is rewarded and non-productive staff is ___________.
2. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
(a) They are destroyed.
(b) They cause pollution.
(c) They are thrown away.
(d) They are used in the blast furnace.
3. In __________, Carnegie has the most modern operation.
4. Carnegie feels confident enough in 1870 to do what?
(a) Sell the business.
(b) Expand the business.
(c) Buy new businesses.
(d) Make large changes in the business.
5. Bank failures destroy personal savings, social safety nets are nonexistent and workers retreat to the family farm or where?
(b) The coasts.
(c) The mother country.
(d) The city.
Short Answer Questions
1. 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.
2. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.
3. Their deal demonstrates the power of what?
4. Carnegie's pace of ___________ replacement needs continuous reinvestment of profits to the exclusion of significant dividend payments.
5. Carnegie's labor guidelines and Captain Bill's implementation works well until 1889 when what happens to Bill?
Short Essay Questions
1. How does Carnegie benefit from cutting costs?
2. Describe Carnegie's replacement of equipment.
3. Describe the economic collapse. How are Carnegie and others affected by it?
4. Why does Andrew not help Tom Scott? What are the effects of this decision?
5. What are the benefits of the Cyclops and Union Mills merger?
6. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?
7. Who is Homestead? How does Carnegie deal with Homestead?
8. Describe American steel companies between 1870 and 1900.
9. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?
10. What does Schwab do for the business?
This section contains 945 words
(approx. 4 pages at 300 words per page)