Andrew Carnegie Made His Fortune with the Help of the Bessemer

question 45

Multiple Choice

Andrew Carnegie made his fortune with the help of the Bessemer converter, which:

• A)refined crude oil into gasoline, diesel, and lubricants.
• B)employed the assembly line technique for rapid manufacturing processes.
• C)identified large coal deposits as far as 2,000 feet below the ground.
• D)transformed large quantities of iron ore into steel by using extremely hot air.
• E)could roll up to 200 cigarettes in less than a minute.

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Definitions:

Perceptual Map

A visual tool used in marketing to display the perceptions of consumers regarding the positions of products, brands, or companies relative to each other in the marketplace.

Graphic Visualization

The representation of data, information, or concepts through visuals such as charts, graphs, and diagrams to facilitate understanding.

Positioning

The strategy of placing a brand, product, or service in a specific niche in consumers' minds to distinguish it from competitors in the market.

Socio-emotional Selectivity Theory

A theory suggesting that as people age, they become more selective in their social contacts to maximize positive emotional experiences.