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. By ________, the Pennsylvania Railroad runs 3,500 miles of track with 30,000 employees and $61 million invested.

2. Who was the founder of Intel and Liz Claibourne?

3. In 1863, his investments pay $45,460 and by 1868, he receives __________ per year for an investment of $817 that he borrows to make.

4. In following years Carnegie gets at least ___________ for a net investment of $217.50 until 1870 when he sells out.

5. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?

Short Essay Questions

1. Why do the Carnegies leave Scotland?

2. How is Pittsburgh important at this time?

3. What happens within two years of arriving in America?

4. Who are Roberto Goizuetta and Any Grove?

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

6. What does Carnegie do in Europe?

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

8. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

9. What does Daniel McCallum offer those in management?

10. How does industry benefit from Carnegie?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

After Carnegie's apprenticeship ends at the Pennsylvania Railroad, he is ready to move on.

Part 1) Why does he decide it is time to move on? Is this a good decision? Why or why not? To where does he move on? Why?

Part 2) How does this move change his life? Do you believe he would have been successful if he had stayed at the Pennsylvania Railroad? Why or why not?

Part 3 ) Describe a time when you have realized it was time for a change. How did you know? How did you go about this change? What were the end results?

Essay Topic 2

Frick shares Carnegie's vision and drive but lacks a sense of humor and is self-righteous.

Part 1) Describe Henry Frick. What is the relationship between Frick and Carnegie? How does this relationship develop? How are both men affected by this relationship?

Part 2) What are the benefits and detriments of Frick to the Carnegie Company? In the end, do you believe Frick was a benefit or a detriment to Carnegie? Why?

Part 3) How does Frick allow his power to go to his head? How does this affect the decisions he makes about the Carnegie Company? Describe someone you know who has allowed power to adversely affect him or her. How can this be avoided? What is required in one's personality to avoid this egotism?

Essay Topic 3

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.

(see the answer keys)

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