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. One of the country's largest banking houses Jay Cooke's collapses, credit structures tumble and _____________ businesses fail in a year.
(a) 1,000.
(b) 50,000.
(c) 5,000.
(d) 500.

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

3. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.
(a) Cutting 15 percent from wages.
(b) Cutting 25 percent from wages.
(c) Adding 25 percent to wages.
(d) Adding 15 percent to wages.

4. Phipps sees possible gains in other operations and encourages Carnegie to hire who?
(a) A full-time biologist.
(b) A full-time physicist.
(c) A full-time conservationist.
(d) A full-time chemist.

5. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
(a) Many.
(b) Few.
(c) Hundreds of.
(d) Quite a few.

Short Answer Questions

1. By 1892, Carnegie is in ______________ and leaves labor issues to Frick.

2. Carnegie leases the iron ore properties from this man. Why?

3. Carnegie forms an enterprise to manufacture Bessemer steel as he changes from ________________.

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

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

Short Essay Questions

1. What does Frick's chairmanship mark?

2. What does Carnegie do between 1872 and 1889?

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

4. How does Carnegie benefit from cutting costs?

5. What causes the 1893 depression? What does Carnegie do at this time?

6. What does Schwab do for the business?

7. Describe American steel companies between 1870 and 1900.

8. Describe Duqesne Steel.

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

(see the answer keys)

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