Andrew Carnegie and the Rise of Big Business Test | Final 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. Frick's chairmanship of the Carnegie Company marks a difficult period in its history starting with what strike in 1892 and a four year depression from 1893.

2. Carnegie eliminates the costly fire insurance on his wooden buildings by replacing them with what?

3. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.

4. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.

5. One of the country's largest banking houses Jay Cooke's collapses, credit structures tumble and _____________ businesses fail in a year.

Short Essay Questions

1. What venture is formed between Tom Miller and Carnegie?

2. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?

3. How does Carnegie benefit from cutting costs?

4. What does Frick's chairmanship mark?

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

6. Describe Duqesne Steel.

7. What are the benefits of the Cyclops and Union Mills merger?

8. Describe Captain Bill Jones' management of labor.

9. 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.

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie and George Pullman make "The Pullman Palace Car Company" a joint venture.

Part 1) How does this joint venture come about? Is this a good decision for both men? Why or why not? What does this joint venture reveal about both Carnegie and Pullman?

Part 2) How does this venture affect the triumvirate? How does it affect other stockholders? How does it lead to the end of stock speculation? How does this end of speculation lead Carnegie in a new direction?

Part 3) Think of two companies you admire or whose products you enjoy. What would it be like if they joined forces? How would this joint venture affect them? How would it affect customers like yourself?

Essay Topic 2

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 3

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?

(see the answer keys)

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