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. Within _______ years of arriving in America, the Carnegies recoup their fortune through the help of their friends, relatives, and countrymen in America and earn more income that they ever received in Scotland.

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

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

4. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?

5. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

Short Essay Questions

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

2. How do family members and friends help immigrants? How is Carnegie's family helped?

3. Who is George M. Pullman? How do he and Carnegie become involved in business together?

4. Describe Carnegie's rise in business by 1865.

5. What does Andrew do from 1867 through 1872?

6. Who are Roberto Goizuetta and Any Grove?

7. What does Daniel McCallum offer those in management?

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. 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.

10. Describe the informal investing triumvirate Carnegie formed with Thomson and Scott.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie forms an informal investing triumvirate.

Part 1) Describe this triumvirate. Why does he form this group? How effective are they? How do they benefit Carnegie? How doe they benefit from him?

Part 2) Throughout the book, what role does this triumvirate play? How does it aid Andrew in growing his wealth? How is it, at times, detrimental?

Part 3) If you were to form a triumvirate, who would it include? Why? What would be the purpose of the triumvirate?

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

Carnegie leaves Pittsburgh for New York City.

Part 1) Why does he decide to make this move? How is this connected to his decisions surrounding his business? How does he benefit from this move and the people he meets upon arriving in New York?

Part 2) Do you believe Carnegie would have been as successful as he was if he had stayed in Pittsburgh? Why or why not? Why was New York City an important place to be at this time? Is New York City as important today? If so, why? If not, why not?

Part 3) In what are you interested? What is the best place to be for this interest? Would you consider moving to this place? Why or why not? How might your life change by making this move?

(see the answer keys)

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