|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. At thirty, Frick is a millionaire with _______ thousand coke ovens and three thousand acres of land.
2. Phipps sees possible gains in other operations and encourages Carnegie to hire who?
3. Carnegie contributes __________ of the partnership total $741,000 in original capital to the firm he names "Carnegie, McCandless and Company" and names the mill "Edgar Thomson Works" (ET) for the first president of Pennsylvania Railroad.
4. The 1878 Thomas process of lime-lining the heating vessel to eliminate phosphorous is acquired by Carnegie and sold to who two years later?
5. Carnegie feels confident enough in 1870 to do what?
Short Essay Questions
1. What does Schwab do for the business?
2. What are the benefits of the Cyclops and Union Mills merger?
3. Describe the economic collapse. How are Carnegie and others affected by it?
4. Describe the seven years of peace and prosperity in the North.
5. What venture is formed between Tom Miller and Carnegie?
6. 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.
7. What happens when Carnegie goes to Scotland?
8. What does Carnegie do between 1872 and 1889?
9. Describe Carnegie's replacement of equipment.
10. Describe Captain Bill Jones' management of labor.
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 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's insistence on knowing the costs continues for his twenty-five years in the steel business.
Part 1) How and why does cost matter throughout Carnegie's career in the steel business, as well as previous business ventures? How might this compare to the importance of cost to other companies? Use the text to support your response.
Part 2) How has this focus on cost influenced other businesses? How does it continue to be important to businesses today? How does this focus on cost aid in the creation of big business?
Part 3) When you make important decisions, on what do you focus? What aspects of a decision are important to you? How does your decision-making process compare to Carnegie's?
This section contains 1,212 words
(approx. 5 pages at 300 words per page)