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. Railroads need huge amounts of what to construct track and more as they expand?

2. Andrew's job delivering telegraph messages puts him in touch with whom?

3. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?

4. He forms an informal investing ____________ with Thomson and Scott.

5. With whom does Carnegie form Columbia Oil Company?

Short Essay Questions

1. How is Carnegie cautious in his investments? How might this help him throughout his career?

2. What does Andrew do from 1867 through 1872?

3. What does Carnegie learn at the Pennsylvania Railroad?

4. How does Carnegie determine he can profit from the boom in telegraphy?

5. How is Pittsburgh important at this time?

6. What characterizes America? To what does this refer?

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

8. What does Carnegie do in Europe?

9. Describe the Pennsylvania Railroad in 1865.

10. Give an example of how the size and complexity of a railroad business requires creation of bureaucratic organization, structure, and policy to fit the needs.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie forces out all partners but Schwab and brings in "young geniuses" who prove their merit.

Part 1) Describe this forcing out of the partners except Schwab. Why is Schwab kept? How is he unique from the other partners? How might these other partners have felt about being ousted from the company? Should they have been forced out? Why or why not?

Part 2) Why does Carnegie believe that bringing in "young geniuses" is the answer to his problems? How do these "young geniuses" prove their merit? How was this decision to bring in new people beneficial to Carnegie and his company?

Part 3) How has business changed at this time? What other decisions does Carnegie make that reflect this change in the steel business? How are these decisions and actions significant?

Essay Topic 2

The start of ET coincides with the Panic of 1873.

Part 1) What is ET? Why is it significant that the start of ET coincides with this panic? How does this affect Carnegie, his partners, and the investors?

Part 2) How does Carnegie deal with this panic? What decisions does he make? How much of an impact do these decisions have on his company? What do his decisions and actions reveal and reinforce about him?

Part 3) How would you have reacted if you had lived during the Panic of 1873? Would you have been as clear-headed and forward-thinking at Carnegie? Why or why not?

Essay Topic 3

Woodruff is the cornerstone of Carnegie's fortune.

Part 1) What is Woodruff? How has Carnegie's fortune grown up to this point? How does it become the cornerstone of Carnegie's fortune? How does this then lead to Columbia Oil?

Part 2) What important decisions does he make regarding these two companies that make them the cornerstone of his fortune? How do these companies lead to future growth in his wealth? Does he make a good decision by getting out of the oil business, investing in other businesses and finally ending up in the steel business? Explain.

Part 3) How do the decisions you have made in the past affect you today? How much of an impact will the decisions you make today have on your future? Do you believe that Carnegie's decisions were well-thought out or based on instinct and experience? Use the text to support your decision. Are most of your most influential decisions and actions based on organized plans or on your own instinct and knowledge?

(see the answer keys)

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