Base All answers on the Video-The Men who Build America:
1.
Carnegie was one of the richest and most successful entrepreneurs of
his time, describe the success and failures faced by Andrew Carnegie.
2.What were some dilemmas Carnegie encountered in his road to success?
3. What made Andrew Carnegie an "Entrepreneur"?
4. Who were some other entrepreneurs who contributed to America in the late 1800's?
5. According to the textbook, Adam Smith came up with the Paradox of Value- How would Andrew Carnegie's steel have a direct correlation to this Paradox?
1) In 1865 Andrew Carnegie began his success with some smart investments in the steel and oil industries. With his investments came large sums of money but all came to a halt when he ran short after trying to fulfill his dream of making a steel bridge that ran across the Mississippi River.
ReplyDelete2) Some dilemmas that Carnegie face while he was on his road to success was when he had to come up with a new way to build a bridge that wold withstand the strong currents of the Mississippi river and also stand tall enough to let cargo ships past underneath its structure. Another dilemma arose when the bridge was in the process of being built and Andrew Carnegie had run extremely low on money and was forced to search for investors in order to complete his work.
3)Andrew Carnegie was an entrepreneur because he was a risk taker. He took a huge risk and built a bridge with steel , which prior to his success in building it had never been done. He took a huge risk and was successful with his actions
4)Some other Entrepreneurs who have contributed to America in the late 1800s were Alexander Graham Bell, John D. Rockefeller, J.P Morgan, and Vanderbilt.
5) Andrew Carnegie's steel would have a direct correlation with Adam's Smith's theory because when building the first steal bridge Carnegie had studied many steel houses and others who molded the steel into shapes before he was able to come up with a design that would hold and withstand the Mississippi River.
1. Andrew Carnegie at first wanted to go to school, but was forced to work for Tom Scott who later became his mentor. He became a favorite of Scott's and was able to help him in the railroad industry. Carnegie was able to build what was then known as the countries largest bridge. It was built with steel and ran across the Mississippi River. Due to his use of steel, he was forced to come up with money he didn't have. For a long time his financial standpoints weren't strong and it took him 4 years to build the bridge. He later went back to his mentor for help with money, but that even failed in the end because he could not create enough of his product.
ReplyDelete2. Carnegie had various issues with money, and with being able to build his bridge. He was forced to go back to his mentor for help, and he was in debt to various people due to his use of steel for his bridge.
3. Andrew Carnegie was an "entrepreneur" because he came from nothing. His family was not well off and he was forced to work for his money, not only that but he made a large bet when creating such a large bridge made out of a material no one really used before. He could have failed, but he didn't and he didn't know that he would succeed. So, his leap of faith and his background made him the prime example of an entrepreneur.
4. Other examples of entrepreneurs in the 1800's were John D. Rockefeller, J.P. Morgan, Thomas Edison, and Cornelius Vanderbilt.
5. Andrew Carnegie's use of steel is in direct correlation with Adam Smith's paradox method because no one else had used steel for such a vast and large invention before. He was forced to create his own technique and shape to make the bridge that he envisioned.
1.Andrew Carnegie had many failures and successes one of his successes would be the building of the Eads Bridge. This bridge is a combined road and railway bridge over the Mississippi River at St. Louis, connecting St. Louis and East St. Louis, Illinois.The bridge is named for its designer and builder, James B. Eads. When completed in 1874, the Eads Bridge was the longest arch bridge in the world, with an overall length of 6,442 feet.
ReplyDelete2.Some failures of Andrew Carnegie would be, that he had very little money at the end of the bridge building and had to stop construction. This didn't stop Andrew because, even though he was short on cash for a short period of time he managed to invest 27million dollars in todays money to finish the job.
3. The thing that made Andrew Carnegie an entrepreneur is that he fit the perfect definition on an entrepreneur. Andrew risked his whole career this the building of the Eads Bridge. Andrew wanted what he wanted and risked everything he had to build his steel bridge a not so common thing back in the late 1800s because, steel was so hard to make large quantities of no one had ever attempted to build a large bridge out of steel. This ultimately contributed to his large success.
4. Other entrepreneurs that contributed to America in the late 1800s would be of course John D.Rockefeller. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great US business trust. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy.Thomas Alexander Scott was an American businessman and he was also Andrew Carnegie's mentor. He was the fourth president of what was the largest corporation in the world, the Pennsylvania Railroad, during the middle of the 19th century.
5.Andrew Carnegie's steel could have a direct correlation to this Paradox because, the railroad wanted his steel but he did not have enough means of making all of this steel. Than after Andrew has the means of making massive amounts of steel the railroad companies couldn't afford to purchase it. Many railroad companies went out of business after the late 19th century.
1. Andrew Carnegie built the first steel bridge of all time, however he hit a rough patch when his mentor lost his wealth and job due to Rockafellar cutting oil supplies to his company, his mentor died and Andrew was very upset.
ReplyDelete2. Carnegie didn't think that he could produce enough steel to start a buiessness, but he succeeded by making steel plants
3. Andrew Carnegie is considered an Entrepreneur because he invested his money (21 million dollars) in his steel company even though he had no idea weither or not it would succeed or back fire, causing him to possibly face loosing his job and money. He also thought to build a bridge out of steel and succeeded.
4. Another Entrepreneur is John D. Rockafellar, he was in the oil buiessness.
5. Perhaps Andrew follows the "Paradox", of Adam Smith because at first he didn't make enough steel, but maybe if he did the railroad wouldn't be able to afford it...creating a problem for both the seller and the buyer
1: Andrew Carnegie had major success in life because of his two very smart and important investments in steel and oil. Steel and oil are very important resources and it really benifitted Andrew Carnegie..
ReplyDelete2: Some dilemmas that Andrew Carnegie faced on his road to success were the problem where money was a bit of a problem when he wanted to build his new bridge and he had to try to pull it off..
3: Andrew Carnegie is an entrepreneur basically because he was known as a very big risk taker. His risks payed off because he was successful in making his bridge..
4: Other entrepreneurs that contibuted to America in the 1800s were: Rockefeller, Alexander Bell, and
Vanderbelt...
5: Andrew Carnegies steel would have a connection to this because Carnegie used steel to invent many things and he really used it to his advantage..
1. Andrew Carnegie had many successes and failures. One success was the investment in steel and the Oil industries. Andrew Carnegie built the first bridge. This bridge ran across the Mississippi River and was built out of his finest invesment, steel. But this life time dream of building the bridge, eventually became a failure because he had to come up with money that he didn't have.
ReplyDelete2. Some dilemmmas that Andrew Carnegie faced on his road to success was the, problem with building the bridge and not having enough money to build it.
3. Andrew Carnegie was an entrepreneur because everything he did, fitted this role. He took huge risks and tried to build his bridge out of steel.
4. Some other entreprenuers that contriubuted to America in the late 1800's were John D. Rockefeller, Vanderbilt , Thomas Edision and Alexander Grahman Bell.
5. Andrew Carnegie's steel would have a direct correlation to Adam Smith's paradox of value because he didn't have enough steel to build the bridge and he used steel as a major investment. He was very unique in making and inventing things with the use of steel.
1. Andrew Carnegie was obviously successful in the steel industry later in his life, but he started young. He eventually became Tom Scott's assistant. However, he faced some hard times. Specifically, when he invested all of his money into building the bridge that Tom Scott wanted to be built across the Mississippi river. This was almost a failure when construction was two years behind schedule. However, it was very successful in the end, and became one of the largest bridges of the time.
ReplyDelete2. Carnegie faced many challenges. One of which is the fact that he didn't go to school, but instead had to start working and support his family from a very young age. Another challenge was building the bridge. Since steel was expensive and difficult to produce, Carnegie faced some challenges in trying to figure out a way to have the bridge built.
3. Carnegie was an entrepreneur because he was a risk taker. When he invested all of his money into that bridge, he could have lost everything and not have ever recovered financially. Moreover, he took an idea and ran with it. This enabled him to mass-produce steel, and this eventually is what brought his name to fame.
4. Rockefeller, who built up the Standard Oil Industry, and Vanderbilt, who is known for is railroad industry, were other famous entrepreneurs of the time.
5. Adam Smith's observation of the Paradox of Value goes hand in hand with Carnegie's steel because steel is much more expensive than some of our necessities, such as water or food.
1. At first, Andrew Carnegie wanted to go to school because he had always dreamed of having an education. He got involved in the railroad industry and eventually got involved with steel. He built a bridge over the Mississippi River out of steel and it became one of his best investments. He did lose money when Rockefeller cut oil supplies.
ReplyDelete2. The dilemmas Carnegie endured during his road to success were the loss of his mentor, not having enough money to build the bridge over the Mississippi River, and losing money to Rockefeller.
3. Andrew Carnegie was an entrepreneur because he was not wealthy when he started out. He even had to quit school to help support his family. However he made investments and made a lot of money off of them.
4. Other entrepreneurs were John D. Rockefeller, Alexander Bell, and J.P Morgan.
5. Andrew Carnegie's use of steel would have direct correlation with Adam Smith's paradox value because Carnegie did not have enough money for the amount of steel he needed, therefore he did not have enough steel to build the bridge.
1. Andrew Carnegie ran the steel industry. He built the first steel bridge, and on the opening day of the bridge he had an elephant walk across it first, and then the people followed. During the making of the bridge, he owed money to many people. After the bridge was complete, he had so many orders for steel that he couldn't fill them all.
ReplyDelete2. On his road to success, Carnegie had money problems, and trouble with the building of the bridge, which was behind schedule.
3. Andrew Carnegie grew up poor, but as he got older he used the money he did have to invest in steel, even though he wasn't sure whether or not it would work out.
4. Other entrepreneurs were Rockefeller, Vanderbilt, and J.P Morgan.
5. Andrew Carnegie's steel has a direct correlation with the paradox of value because steel was expensive, and he spent all his money on steel in order for his business to grow.
1. First Carnegie was investing in his steel and oil business which was doing very well. Then he planned on making one of the largest bridges across the Mississippi River. This bridge cost thousands of dollars which he was not able to keep up with. However, it benefited him in the long run.
ReplyDelete2.Some challenges that Carnegie faced on his road to success was the bridge that went across the Mississippi River. He did not have enough money for certain resources and more. He lost his mentor Sir Scott. Also, Rockefeller was becoming more popular than him.
3.Andrew Carnegie is an entrepreneur because he was a risk taker. He took a risk building a bridge out of steel.
4. Some other entrepreneurs of the 1800's were Alexander Bell, John D. Rockefeller, Vanderbilt, J.P. Morgan, and Thomas Edison.
5.Andrew Carnegie's use of steel would have direct correlation to Adam Smith's paradox value because Carnegie did not have enough money nor did he have enough resources at a point to build his enormous bridge.
Andrew Carnegie wanted to be the first man to build a bridge with steel and investing all of his money into it After making the bridge Carnegie ended up creating a steel business because their was not enough steel around for him to create railroads. Another thing is that he also got involved in the railroad industry with the help of his old mentor. He also had many problems while trying to accomplish to first bridge that will connect the east to the west. He is known to be an entrepeneur as well as Alexander Bell and John D. Rockefeller etc. Andrew Carnegie using steel was a direct correlation as well as Adam Smith paradox value because carnegie need the profits to create the bridge and get more steel.
ReplyDelete1.Andrew Carnegie had been the first person to successfully build a bridge across the Mississippi river. While doing that he was the first person to build a bridge out of steel as well as prove it would hold by having an elephant walk across it. Andrew Carnegie was not able to make enough of the steel that the railroads had asked of him so that was a negative in his life as well as losing the person that was most important to him his mentor.
ReplyDelete2.Andrew Carnegie had a few problems in building the bridge since he had used up all the money he could and he still was in need of another one million dollars. He had also fallen a few years behind in building the bridge.
3.Andrew Carnegie was an entrepreneur is because he had done a good job with his investments in the oil and steel industries. Also the fact that he took great risk to achieve what he did.
4.Other entrepreneurs in the 1800's were John D. Rockefeller, J.P. Morgan, and Cornelius Vanderbilt. These men had also taken great risk which had made them great entrepreneurs.
5.Andrew Carnegie's steel would have a direct correlation with Adam's Smith's paradox method because Carnegie had used what was a necessity to build the bridge no matter what the value.
1. Andrew Carnegie was a very successful man. His work is still with us, to this day. He pught a lot of thought and effort into his work, and it certainly paid off. His largest success, was the big bridge that he had built across the Mississipp River, this was made of steel. The failure part that he had faced, was that he had so many requests to build things, that at one point he ran out of steel and needed to come up with something to satisfy the customers.
ReplyDelete2. Some dilemmas Carnegie encountered in his road to success, was that he needed to get the people to not be scared to cross the bridge, so he used an elephant to walk across with them. He also had a lot of requests for jobs to build things, but did not have enough steel.
3. Andrew Carnegie was known as an "entrepreneur" because he used his brain to the best of his abilities and came up with the ideas to build his products with steal rather then being the same as all the other architects that would be using wood.
4. Some other entrepreneurs who contributed to America in the late 1800s, were John D. Rockefeller, Henry Ford and Vanderbuilt. These men all affected America in a positive way that is still useful to this day.
5. Carnegie's steel has a direct correlation to the paradox of Adam Smith's because he thought that having a bridge built of steel was necessary, no matter the price of it.
1. The successes of Andrew Carnegie were that he was able to build the first bridge out of steel and was a successful entrepreneur. Failures of Andrew Carnegie were he was in debt from all the materials and supplies he was purchasing for the creation the bridge.
ReplyDelete2. Andrew Carnegie faced the dilemma of not being able to finish building his bridge.
3. What made Andrew Carnegie an entrepreneur was because no one was really interested or knew what steel was so he took a chance in using steel and was very successful.
4. Other entrepreneurs were John D. Rockefeller with oil, Henry Ford with the first automobile and J. P. Morgan.
5. Andrew Carnegie used paradox of value because he used steel when no one else did and it created a gold mine for him because it was useful for the people.
1. The success and failures faced by Andrew Carnegie:
ReplyDeleteSuccess:Steel tycoon and the philanthropy
Failures:he was in dept from the cost of the bridge he created
2.He faced the dilemma of making people comfortable with the bridge and his dept situation
3.What made Andrew an entrepreneur was that he created his own resource and became wealthy off of what he created.
4.Entrepreneurs from the 1800s were Rockefeller, Ben Jones, and Henry Ford.
5.Andrew Carnegie's steel would have a direct correlation to this Paradox because he created something useful
1) The success of Andrew Carnegie is that he created the first bridge connecting the east and west out of steel, a failure of his is that he went in debt in paying back his loans for the steel.
ReplyDelete2) Some dilemmas Carnegie faced was that he needed more steel but had no money, he was also going in debt of paying back his original loans.
3)Andrew Carnegie an entrepreneur because he took risks by making the first bridge out of steel which back then was only a thought and never sought out.
4)Other entrepreneurs other then Carnegie was Rockefeller, Henry Ford and Vanderbilt
5)Andrew Carnegie's steel have a direct correlation to this Paradox because Andrew used steel to make a bridge when no one has ever done that back in his time and it worked out amazingly.
1.Andre Carnegie created the first steel bridge connecting the east and west. This caused him to go into tons of debt due to the cost of steel and the amount in loans he took.
ReplyDelete2.Carnegie faced all of the debt he owed with no money to pay anything back. He also had the doubt of the people, not knowing if the bridge was going to hold.
3.Andrew Carnegie is an entrepreneur because he took risks on something he believed in and invested his money and created something spectauluar.
4.Rockefeller and Hnery Ford are also considered entrepreneurs.
5.Andrew Carnegie's steel has a direct correlation with the paradox of value because steel was expensive, and he spent all his money on steel in order for his business to grow.
Andrew Carnegie was aself made steel tycoon and one of the wealthiest men in the 19th century. Andrew had little of a formal education, but his family believe in the importance of books and learning. Carnegie started at the bottom, he worked in a factory, he worked as a messager for a telegraph. In 1853 he got a job on the pennsylvania railroad. He worked as an asst. and telegrapher to Thomas Scott after three years he was promoted to superintendent.
ReplyDeleteAndrew always made wise choices he invested in oil-the next step was that he became known for the Carnegie Steel Company. He built plants all over the country. He was able to manufacture steel easier, faster and more productive. He owned all the materials that were needed from start to finish. This made him known as one of "Americas Builders".
The dilemnas that were caused were some people felt that the company's sucess came at the expense of the workers. In 1892 the company wanted to pay lower wages, the workers refused to work this brought about the "Homestead Strike".
Andrew Carnegie made a dramatic change in 1901, he sold his buisness to U.S steel, J.P Morgan. This deal earned him 200 million dollars, Andrew decided to spend the rest of his days helping others.
Other notable entrepreneurs were;
John D. Rockefellar-Standard Oil, J.P Morgan-Banker, Richard Sears-Mail Order
1. Andrew Carnegie's Success started out when he worked for the train company, and soon elevated to the steel company. His success in the steal business is the reason why we have tall buildings in the city and strong bridges to cross. Not only that but steel is used in a lot more things now then you think, and you can thank Andrew for that and making stronger structures. His failures were pretty much some bad experimenting with structures, bad partnerships, or not being able to pay off his debt for a short period of time while he was trying to build the bridge that connects east and west and was another success for Carnegie.
ReplyDelete2. Some dilemmas Carnegie encountered in his road to success are, like mentioned above bad partnerships, running out of money, trying to figure out if the structure will be strong, sometimes money would not come in, and that led to the homestead strike, because he tried to lower wages with his partner Frick.
3. Andrew Carnegie was an Entrepreneur because he turned to the steel industry which made small items like eating utensils and built a bridge out of steel. Which then eventually people made buildings out of steel and a lot of other structures. So he invested in the steal company and took it to a bigger level, is the reason why he is an entrepreneur.
4. Some other Entrepreneurs that contributed to America in the late 1800s are, John Rockefeller, Henry Frick was a partner of Andrew Carnegie, and Thomas Edison.
5. Well technically we don't need steel to survive and it is expensive, where as other things needed to survive are cheap, but steel is needed in order to make structures more durable and make life easier.
1.Andrew Carnegie achieved becoming one of the greatest business men of all time. he achieved building a bridge connecting the Mississippi river. He did this even with having great debts and very little time. He also found a way to mass produce steel and took aver the industry.
ReplyDelete2.Andrew Carnegie started as a poor child who began working at a young age. he also was broke before he hit his big break when he made the bridge.
3.Andrew Carnegie was an entrepreneur because hen took risks. he may have failed and or not took a shot and we would not be learning about him but he didn't care and went all out.
4. Their were many other great entrepreneurs in the late 1800s like John Rockefeller and Vanderbilt , Edison and J.P. Morgan
5.We don't need steel and is not a necessity even though is was exorbitantly costly compared to water.
1. Carnegie was one of the best entrepreneurs of all time. His big succes came owning the steel industry. He was the first to build a steel deck bridge.
ReplyDelete2. Some of his dilemas were that steel was very expensive to make. At a point he was spending more money on the bridge then he was making. The bridsge was behind schedule.
3 .Carnegie is a risk taker. He spent all of his money on one project not knowing if it was going to work or not. The whole project could have been a fail and could have wasted all of his money.
4. Rockefeller, Vanderbuilt and Ford
5. Carnegie's steel industry goes along with the paradox of value because eventually everyone wanted to use steel to create products. Since there was a large demand for steel he was able to make more money and produce more steel.
1. Carnegie was one of the most successful entrepreneurs of his time. His success came from building a steel bridge across the Mississippi River to connect the US together.
ReplyDelete2) Some dilemmas that Andre Carnegie faced was that he had to keep borrowing money from people and the amount of steel production was slow and not enough was made fast enough.
3. Carnegie was an entrepreneur because he risked a lot when he went into steel. there wasnt usually a lot of steel at one time.
4. Some other entrepreneurs who contributed to America in the late 1800's were: John D. Rockefeller, Cornelius Vanderbilt, and John Jacob Astor.
5. Carnegie's steel has a direct correlation to the paradox of Adam Smith's because he thought that having a bridge built of steel was necessary, no matter the price of it.
1. Carnegie was a very successful entrepreneur during his time. While working for the railroad, Carnegie began making investments. He made many wise choices and found that his investments, especially those in oil, brought in substantial returns. He left the railroad in 1865 to focus on his other business interests, especially on the Keystone Bridge.
ReplyDelete2. Carnegie had many setbacks such as with money and paying it back to people he borrowed from, and being able to build his bridge. He had no choice but to ask for help from the man who mentored him.
3. Andrew Carnegie is a true entrepreneur. He took the chance to build the first bridge out of steel and believed in his theory when everyone doubted him.
4. Other entrepreneurs in the late 1800's who contributed to America were J.P. Morgan, John D. Rockefeller, Henry Ford, and Thomas Edison.
5. Andrew Carnegie's steel has a direct correlation to this paradox because he thought a bridge made out of steel was necessary even though the price of steel is high.
1)Some successes by Andrew Carnegie was that he built the fist bridge that when across the Mississippi river. He was also very successful in the steel industry. Some of his failures were that he was in crippling debt when he was trying to build the bridge.
ReplyDelete2)Some dilemmas that he faced were that he was in debt all the time and the amount of steel that needed to be made caused him to be off schedule with the bridge.
3)What made Carnegie an entrepreneur was that he took risks, specifically with the steel industry because no one before him had mass produced steel.
4)Other entrepreneurs in the late 1800's included J.P Morgan, John D. Rockefeller, and Henry Ford.
5)The way Andrew Carnegie used steel was a paradox because steel was not really necessary but he used it anyway even though it was very expensive.
1. Andrew CArnegie was sucessful in the steel industry, but he wasn't that great at repaying debts. Making steel and buying materials is expensive, and he was deep in debt when he was building his St. Louis (?) bridge.
ReplyDelete2. Carnegie's calculations for his time and his money were huge problems that he encountered during his time working.
3. Carnegie took big risks in trying new things and he wasn't afraid to blow all his money on one thing. Clearly, that wasn't the smartest thing to do, but it helped him greatly with his work. That's what makes him an entrepreneur.
4. Other crazy risk-takers during this time were JP Morgan, JD Rockefeller, H Ford, Ben Jones, and other inventors.
5. Steel wasn't necessary for Carnegie to build his bridge. It was expensive, unnecessary, and took up a lot of time, but it made a solid bridge.
1. Andrew carnegie was successful as an entrepreneur who controlled most of the steel industry. He built the first bridge out of steel but then he failed because he put himself into debt when building it.
ReplyDelete2. Carnegie was in debt to many different people because of the bridge that he fell behind in building.
3. Carnegie was an entrepreneur because he risked a lot when he went into steel.
4. Other entrepreneurs in the 1800s were john d rockerfeller, j.p. morgan, and cornelious vanderbilt.
5. carnegie invented things with steel and used it ways people havent thought out of, but he did not have enough steel to finish up the bridge.
1. Andrew Carnegie was successful because he built the first steel mills and was able to mass produce steel and make a fortune. He met some problems while he was constructing a bridge out of steel early in his career and was close to going bankrupt.
ReplyDelete2. While Carnegie was building the bridge was met with a lot of financial problems because he owed so many people money.
3. Carnegie is considered a great entrepreneur because he took a chance when he went into the steel business.
4. Other entrepreneurs from the 1800's are Vanderbilt and Rockefeller.
5. Steel is not a need in life witch made it very expensive at that time. So building the bridge was a expensive task that almost cost him his fortune.
1) Andrew Carnegie faced major successes as well as a great number of failures. Carnegie dominated the steel industry. Not only extending this raw material to the construction of railroads but also the making of automobiles, buildings, and production machines. Steel is still found in numerous goods today. Some failures he faced were the construction of his bridge. Though it was built, it took a while to complete because Carnegie was facing bankruptcy.
ReplyDelete2) Some dilemmas Carnegie encountered were debt. He found himself in bankruptcy because he took risks on the sales of many goods/ services which didn't always make a profit.
3) What made Carnegie an entrepreneur was that he took risks
4) Other entrepreneurs of that time period were John D. Rockefeller and J.P Morgan
5) Carnegie's steel wouldn't have a direct correlation to the paradox of value. Though we don't need steel to survive, steel is the basis of many goods/ services that help us maintain everyday life, such as railroads for transportation or machines which help our society mass produce
1. Carnegie's biggest success was his bridge he built over the mississippi. He almost was not able to complete it because he did not have the money.
ReplyDelete2. Some of his dilemas were that steel was very expensive to make. At a point he was spending more money on the bridge then he was making. The bridsge was behind schedule.
3. He became and entrepreneur through basically creating the steel industry in building skyscrapers. Carnegie steel was used to build countless buildings in New York and Chicago.
4. Another prominent entrepreneurs of his time was John D. Rockefeller. He worked in a similar industry to Carnegie.
5. Andrew Carnegie's steel had a direct correlation to the paradox of value because the steel cost more money but was not a necessity. Iron was used, wasn't strong enough but still was used for building things. Steel was used for silverware and jewelry only, at that time. Not a real necessity but the value was high.
1Andrew carnegie was very successful in building the brige of the Mississippi river. Even though he faced many chanellges because he didnt have the income to pay for it.
ReplyDelete2Some problems that carnegie faced was that he was piling up debt because he didnt have money to pay back all the people that he had borrowed from.
3He was an entrepuer when hedecided to create a steel business and decide to take the risk by going into business for himself
4 other entrepreurs were rocafella and Jp morgan as well as vanderbuilt.
5 The resason why steel was so expensive was because people never had order that much steel in thoses day and steel was only used for the little things.
1. Andrew CArnegie was sucessful in the steel industry, he built the fist bridge that when across the Mississippi river.
ReplyDelete2. some problems he met with a lot of financial problems.
3.Carnegie was an entrepreneur because he took many risks, specifically with the steel industry because no one before him had mass produced steel.
4.Another entrepreneur of his time was John D. Rockefeller
5.Andrew Carnegie's use of steel is in direct correlation with Adam Smith's paradox method because no one else had used steel for such a big project.
Elijah vazquez
1) Carnegie was successful in his production of steel his failures was that he began to run out of products.
ReplyDelete2) He had to find a way to build a bridge of the Mississippi river.
3) He was a risk taker and invested all his money in a business that may not have worked out.
4) John D. Rockefeller and Cornelius Vanderbilt.
5) Steel was not that much of a need but it was still sold for a high price.
1)Carnegie was a successful entrepreneur during his time because he built the first steel bridge. He also made investments in the steel and railroad industries. However he did face some hard ships especially when he put all his money into the bridge he wanted to build. He owed people money and was in debt from building the first bridge.
ReplyDelete2)Some dilemmas Carnegie faced during his road to success was with money and building the bridge which was his dream to build it. He was in debt for borrowing money from them for steel for his bridge. He also had to go back to his mentor for help.
3)Andrew Carnegie was considered an entrepreneur because he took risks in what he invested in and took a chance building the first steel bridge. He invested his money in his steel company even though he never knew if it would be successful or not.
4)Some other entrepreneurs who contributed to America in the late 1800's were Rockefeller, Thomas Edison, and Henry Ford.
5)Andrew Carnegie's use of steel fits with Adam Smith's paradox method because steel was expensive and he used all of his money to buy steel to build the first steel bridge.
1) Carnegie's success was based on his accomplishment of building the first steel bridge, in trying to build that bridge he created a huge depth in his life.
ReplyDelete2) dilemmas he faced was owing money to the steel companies etc.
3) Andrew Carnegie was considered an entrepreneur because he took risks in what he invested in. He invested his money in his steel company even though he never knew if it would be successful or not. he took a 50/50 gamble and it worked.
4)entreprenurs like henry ford, rockefeller and enzo ferrari
5)Andrew Carnegie's use of steel fits with Adam Smith's paradox method because steel was expensive and he used all of his money to buy steel to build the first steel bridge.
1.He was extremely successful in the steel industry and is known for his bridge that went over the mississippi river, but it is also a failure because he needed the help of others to pay for the steel.
ReplyDelete2.Steel was expensive, and especially the amounts that carnegie needed for the bridge, he didn't the money for the entire project so he borrowed money from others and was in the debt to them.
3.An entrepreneur is someone who takes risks to be successful, carnegie is an entrepreneur because had the bridge been a failure he would've committed financial suicide and been in debt for the rest of his life.
4.Henry Ford, Rockefeller, Edison
5.The use of steel fits Adam Smith's paradox method because everyone else was using iron to build massive structures and using that much steel was unheard of, so the price was high, he could've made the bridge out of iron but it wasn't strong enough.