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. GM - Ford - and Chrysler dominated the market. GM=50% share






2. Control all aspects of an industry from raw materials to retail.






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






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






5. Reduction in diversification. Reduction in layers of management.






6. Business leaders sought to achieve cooperation among business - labor and government.






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






8. Let the people do as they please






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






10. Started as a gun powder company - Rate of return.






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






12. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.






13. Defense department became a significant source for scientific and engineering. Led by private firms and university.






14. Corporate offices






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






16. Committed her life to social reform - immigrant committee






17. Promote economic recovery in Europe.






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






19. Ultimate authority of nations economic well being shifted from private arena - to public arena.






20. 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.






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






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






23. Most women were stalled at middle management levels.






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






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






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






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






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






29. A few firms dominate an industry. Price competition decreased.






30. Interstate Commerce Commission was strengthened. Regulated rates.






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






32. Congress established a national banking system.






33. Worked divided by specific tasks. i.e. accounting - production - ect.






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






35. Partnership between business and government. Solve problems through scientific investigation. Society of Harmony






36. Urged the gov't to control the money supply in order to control inflation.






37. Free trade between US - Canada - Mexico






38. Father of Scientific Management. Studied individual tasks to make them more efficient. Used a stop watch to measure time it takes to complete a task.






39. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






40. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






42. Sec. of Treasury under lincoln. Father of national Banking system.






43. Items purchased by consumers for use over more than a year or two.






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






45. Management could hire whomever they wanted but after a period of time. All workers had to join the union.






46. Oil refining business. He was the first billionaire.






47. Provided national advertising and mass production






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






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






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