Test your basic knowledge |

Management 101: Business History

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Worked divided by specific tasks. i.e. accounting - production - ect.






2. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.






3. Income people could do with as the pleased.






4. Use borrowed money to buy company. Sometimes used to take 'stock private'






5. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.






6. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.






7. Setting of the firms strategy according to realistic observations of available customers and then organizing the firm to coordinate production - distribution - sales and service according to these observations.






8. Creators of Microsoft






9. Paper currency issued by the government to finance to civil war.






10. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't






11. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.






12. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays






13. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






14. Sears.






15. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.






16. Committed her life to social reform - immigrant committee






17. Burden of proof to raise rates was now the responsibility of the railroads.






18. Let the people do as they please






19. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.






20. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.






21. Employers can hire whoever they want. Both union and non union.






22. Provided national advertising and mass production






23. Corporate offices






24. Developed the assembly line. Anti Union. Model T.






25. Panic of 1907 - 5 members - foreign transactions went through NY.






26. Companies had the right to manage. Union leaders.






27. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






28. Sought to break up the control of big business to create more opportunities.






29. Most women were stalled at middle management levels.






30. Setting of prices by mangers of large firms.






31. Use of stock tender to offer to buy a company that did not want to sell.






32. Goal was to represent the interests of American business in general.






33. Congress established a national banking system.






34. Set of values that placed a higher priority on the use of good than on their production.






35. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.






36. Gold drain; exchange rates; free floating






37. Transportation. Airline Act. Rail Act. Motor Carrier Act.






38. Close banks to keep people from withdrawing all of their money and collapsing the banks.






39. Could only hire union workers. Illegal






40. 1929 stock market crashed






41. Programs intended to stabilize the economy while maintaining individual autonomy.






42. Workers would enjoy the rights of association and the ability to influence wage levels.






43. Alliance among public agencies - private firms and trade associations to handle international competitions.






44. First college of business.






45. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.






46. Inflation continued in the absence of robust economic growth.






47. Retailer - mail-order companies. Name brand products - advertising - catalogs.






48. Dominated the retail industry by mail order only selling.






49. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.






50. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.