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. After this steel company's acquisition for _____ million bonds, Frick restructures all the related companies with Carnegie Steel Company, Limited taking over assets of Carnegie Brothers and Carnegie Phipps with a $25 million capital base, distributing to Carnegie 55 percent, Frick and Phipps both 11 percent each, 1 percent each to nineteen partners and 4 percent reserve for key staff.

2. Carnegie relies on what system implemented by Thomson and Scott at the railroad to transfer and adapt it to industry?

3. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.

4. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?

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

Short Essay Questions

1. What does Carnegie do between 1872 and 1889?

2. Describe the economic collapse. How are Carnegie and others affected by it?

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

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

5. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

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

7. Describe Duqesne Steel.

8. What does Frick's chairmanship mark?

9. Describe Captain Bill Jones' management of labor.

10. How does Carnegie rely on the McCallum system?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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?

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

A typical pattern in the 19th century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.

Part 1) How was this the case for the Carnegies? How did they benefit from this? How might this have affected communities in the U.S.?

Part 2) How would this affect one's ability to acclimate to the American culture? What might have been considered American culture at this time? Explain.

Part 3) How are these communities still seen today? Why do these ethnic communities still exist?

(see the answer keys)

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