|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. 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 Monongahela.
(b) At the Ohio River.
(c) At the Potomac.
(d) At the Allegheny.
2. Only how many of the original nine partners remain?
3. 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.
(c) $2.5 million.
4. At the age of ___________ Carnegie finds a wife for his home, a business successor and considers retirement.
5. American capitalism and democracy conflict in the fear that economic justice requires what?
(a) Small government.
(b) No government.
(c) An inactive government.
(d) An active interventionist role for government.
Short Answer Questions
1. Andrew needs a strong leader to manage growth after what happens to his brother Tom?
2. The partners want Frick to exercise power without Carnegie. Why?
3. Carnegie pressures management and Frick resigns again. Is his resignation accepted?
4. This approach introduces ______________ into pricing and a methodology for investment planning.
5. Tom Miller is a _________ man who forms joint ventures with Carnegie in several small investments. They form Freedom Iron Company of Lewiston Pennsylvania in 1861 that Carnegie restructures into Freedom Iron and Steel to retool for the Bessemer process in 1866.
Short Essay Questions
1. What happens when Carnegie goes to Scotland?
2. What venture is formed between Tom Miller and Carnegie?
3. How does Carnegie benefit from cutting costs?
4. How does Carnegie rely on the McCallum system?
5. Describe the firm and the new mill.
6. Describe Duqesne Steel.
7. How is Rockefeller involved in Carnegie's business?
8. 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.
9. Describe Carnegie's partners at this time.
10. What are the benefits of the Cyclops and Union Mills merger?
This section contains 1,055 words
(approx. 4 pages at 300 words per page)