Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Hard

Harold C. Livesay
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Andrew begins to see the railroad industry as an opportunity to regain what?

2. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.

3. A typical pattern in the ____________ century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.

4. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

5. Railroads link Pittsburgh to the Atlantic coast and eventually to the Pacific coast, with the _______________ the best of them all.

Short Essay Questions

1. How does Andrew escape the textile mills?

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

3. Why does Andrew not help Tom Scott? What are the effects of this decision?

4. Describe Duqesne Steel.

5. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

6. What does Carnegie learn at the Pennsylvania Railroad?

7. How is Rockefeller involved in Carnegie's business?

8. How does Carnegie rely on the McCallum system?

9. What does Carnegie do when Pacific dividend payments stop?

10. What takes place in April 1899? How does Carnegie feel about this?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

With the forming of an enterprise to manufacture Bessemer steel, Carnegie changes from capitalist to entrepreneur.

Part 1) Why does he decide to move into the steel business? How does this change him from a capitalist to an entrepreneur? Is this a good maneuver? If so, why? If not, why not?

Part 2) Carnegie follows a policy of putting all of his eggs in the same basket and watching that basket. Is this a good policy? Why or why not? How has becoming an entrepreneur changed Carnegie? In what ways has he stayed the same?

Part 3) Carnegie's partners include many wealthy executives and merchants. How important are these men in Carnegie's new ventures in steel? How have others been important in Carnegie's professional career? How important are others in your own life and advancements you have made?

Essay Topic 2

The Panic of 1873 is significant.

Part 1) Describe the Panic of 1873. How does it begin? How are businesses and ordinary citizens affected by it? How does the country pull out of this panic? How does this panic compare to the 1929 Crash and the Great Depression that followed?

Part 2) Could this panic have been avoided? If so, how? If not, why not? Did the country learn from this panic? Why or why not?

Part 3) Could a panic such as this occur again? Why or why not? Have we as a country learned anything from this panic, the Crash of 1929, and other economic disasters? Explain.

Essay Topic 3

Carnegie works for the Pennsylvania Railroad.

Part 1) Describe his time with this railroad company. How is this time significant in his career as a businessman?

Part 2) What are four important things he learns from working for the Pennsylvania Railroad? How are these things useful later in his life?

Part 3) Andrew receives several promotions. Why? How is this success foreshadowed earlier in the book?

(see the answer keys)

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