|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Captain Bill Jones claims success in managing labor by doing what?
2. Carnegie follows the successful path of building through a depression and lack of customers by ________________.
3. Carnegie eliminates the costly fire insurance on his wooden buildings by replacing them with what?
4. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.
5. Small firms operate iron furnaces to smelt ore into _______ iron.
Short Essay Questions
1. Describe American steel companies between 1870 and 1900.
2. Describe Carnegie's replacement of equipment.
3. Why does Carnegie hire Alexander Holley?
4. How does Carnegie benefit from cutting costs?
5. Describe Captain Bill Jones' management of labor.
6. What does the entrepreneurial Carnegie begin in 1872? Describe his work at this time.
7. Describe the economic collapse. How are Carnegie and others affected by it?
8. What does Frick's chairmanship mark?
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. Why does Andrew not help Tom Scott? What are the effects of this decision?
Write an essay for ONE of the following topics:
Essay Topic 1
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 2
Andrew Carnegie emigrated from Scotland.
Part 1) When and why did he emigrate from Scotland? Describe his life upon arriving in the U.S. How did it compare to the lives of other immigrants?
Part 2) How did his family adjust to life in America? How did this affect Andrew? When did he get the opportunity for advancement? How was this a case of being in the right place at the right time?
Part 3) What might it be like to be an immigrant today? Might it be easier or harder to adjust to American life? Explain.
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?
This section contains 1,345 words
(approx. 5 pages at 300 words per page)