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This quiz consists of 5 multiple choice and 5 short answer questions through Triumph and Tragedy.

Multiple Choice Questions

1. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.
(a) Increased prices and increased profitability.
(b) Reduced prices and increased profitability.
(c) Increased prices and reduced profitability.
(d) Reduced prices and reduced profitability.

2. The size and complexity of a railroad business requires creation of bureaucratic organization, structure, and what else?
(a) A hiring process.
(b) A union.
(c) Benefits for workers.
(d) Policy to fit the needs.

3. Carnegie meets railroad's ____________ and initiates control of division operations when needed.
(a) Executives.
(b) Customers.
(c) Critics.
(d) Managers.

4. Carnegie feels confident enough in 1870 to do what?
(a) Make large changes in the business.
(b) Buy new businesses.
(c) Sell the business.
(d) Expand the business.

5. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Train movement.
(b) Customer movement.
(c) Customer interest.
(d) Train repairs.

Short Answer Questions

1. Carnegie is praised by labor leaders and Frick is considered _____________.

2. Tom Miller is a _________ man who forms joint ventures with Carnegie in several small investments. They form Freedom Iron Company of Lewiston Pennsylvania in 1861 that Carnegie restructures into Freedom Iron and Steel to retool for the Bessemer process in 1866.

3. Captain Bill Jones claims success in managing labor by doing what?

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

5. Specialized merchants control flow of product at every step, which _____________________.

(see the answer key)

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