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Test your basic knowledge |
Management 101: Business History
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Study First
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. 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.
Frederick Taylor
Associative State
Open Shop
Conglomerates
2. 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.
Taft Hartley Act
Gilded Age
Salmon Chase
Marketing
3. Close banks to keep people from withdrawing all of their money and collapsing the banks.
Progressivism
Corporate Management
Bank Holidays
Franklin Roosevelt
4. Items purchased by consumers for use over more than a year or two.
Keynes Economic Theory
Corporatism
Corporate Management
Consumer Durables
5. Goal was to represent the interests of American business in general.
U.S Chamber of Commerce
Administrative pricing
Bank Holidays
Closed Shop
6. Committed her life to social reform - immigrant committee
Francis Kellor
Marshall Plan
Military Industrial Complex 2
Employment & Production Act
7. Workers would enjoy the rights of association and the ability to influence wage levels.
Mann-Elkins Act
Gilded Age
Industrial Democracy
Franklin Roosevelt
8. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.
Montgomery Ward
Mircosoft
Henry Ford
Marketing
9. Gold drain; exchange rates; free floating
Social Responsibility
Franklin Roosevelt
Currency
Civil War
10. Free trade between US - Canada - Mexico
Military Industrial Complex 2
NAFTA
Andrew Carnegie
Gilded Age
11. Business - not independent trade unions should look after the best interest of the workers.
Vertical Integration
Welfare Capitalism
Industrial Policy
Functional Departmentalization
12. Worked divided by specific tasks. i.e. accounting - production - ect.
Marshall Plan
Functional Departmentalization
Herbert Hoover
Closed Shop
13. Setting of prices by mangers of large firms.
Green Backs
Administrative pricing
Civil War
Mircosoft
14. Few companies combines forces to control production of sale of a product.
Horizontal Integration
Open Prices
Mass Industry
Associative State
15. Control all aspects of an industry from raw materials to retail.
Progressivism
Marketing
Vertical Integration
Open Prices
16. Transportation. Airline Act. Rail Act. Motor Carrier Act.
Trade
Deregulation
The Great Depression
Hepburn Act
17. Ultimate authority of nations economic well being shifted from private arena - to public arena.
Mircosoft
Horizontal Integration
Corporation
Employment & Production Act
18. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.
Richard T. Ely
Organization of Petroleum Exporting Countries
Welfare Capitalism
Civil War
19. Promote economic recovery in Europe.
Franchisor
Frederick Taylor
Anti-trust Policy
Marshall Plan
20. 1929 stock market crashed
Herbert Hoover
Andrew Carnegie
Deregulation
Horizontal Integration
21. Most favored nation. Trade barriers raised.
Franklin Roosevelt
Stagflation
Corporation
Trade
22. Sears.
Consequences of Mergers
Horizontal Integration
Progressivism
Montgomery Ward
23. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.
Managerial Revolution
Disposable Income
Open Prices
Mircosoft
24. Companies had the right to manage. Union leaders.
Keynes Economic Theory
Taft Hartley Act
Hostile Takeover
Marshall Plan
25. President;FDIC;Closed all banks on first day in office;only president to serve four terms.
University of PA
Franklin Roosevelt
Laissez Faire
John D. Rockafeller
26. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.
Disposable Income
New Individualism
Trade
Leveraged Buyout
27. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.
New Individualism
Sherman Anti-Trust Act
Herbert Hoover
Leveraged Buyout
28. Oil refining business. He was the first billionaire.
Open Prices
John D. Rockafeller
Post-Industrial Economy
Henry Ford
29. Programs intended to stabilize the economy while maintaining individual autonomy.
Associative State
Franchisee
Oligopoly
Most Favorited Nation
30. First college of business.
Richard T. Ely
University of PA
Vertical Integration
Mann-Elkins Act
31. American firms were poised to dominate economic activity in a system of free trade.
Economic Prosperity
Post-Industrial Economy
Union Shop
Disposable Income
32. Management could hire whomever they wanted but after a period of time. All workers had to join the union.
Union Shop
Disposable Income
Corporate Management
Open Prices
33. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.
Conglomerates
Currency
Keynes Economic Theory
University of PA
34. Dominated the retail industry by mail order only selling.
Green Backs
University of PA
Sears
Leveraged Buyout
35. Urged the gov't to control the money supply in order to control inflation.
Corporate Management
Mircosoft
Monetarism
Keynes Economic Theory
36. Use borrowed money to buy company. Sometimes used to take 'stock private'
Herbert Hoover
Montgomery Ward
Leveraged Buyout
Marketing
37. Congress established a national banking system.
Horizontal Integration
Civil War
The Great Depression
Disposable Income
38. Paper currency issued by the government to finance to civil war.
Union Shop
Gilded Age
Open Prices
Green Backs
39. Panic of 1907 - 5 members - foreign transactions went through NY.
John D. Rockafeller
Mircosoft
1913 Federal Reserve Board
Military Industrial Complex
40. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.
Montgomery Ward
Corporate Management
Salmon Chase
Progressivism
41. President. Standard oil - american tobacco - us steel.
Glass Ceiling
Industrial Democracy
Military Industrial Complex
William Taft
42. Alliance among public agencies - private firms and trade associations to handle international competitions.
Franchisee
Mann-Elkins Act
Marketing
Industrial Policy
43. Defense department became a significant source for scientific and engineering. Led by private firms and university.
Business Bureaucracies
Union Shop
Military Industrial Complex
Horizontal Integration
44. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.
Currency
Andrew Carnegie
Montgomery Ward
Corporation
45. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays
Bill Gates - Paul Allen
Most Favorited Nation
Conglomerates
The Great Depression
46. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.
Business Bureaucracies
Civil Rights Act
Open Prices
Stagflation
47. Corporate offices
Oligopoly
Decentralized Management
Closed Shop
Economic Prosperity
48. GM - Ford - and Chrysler dominated the market. GM=50% share
Booming American Automobile Industry
Laissez Faire
Mircosoft
Associative State
49. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.
Richard T. Ely
Conglomerates
Anti-trust Policy
Sears
50. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.
Economic Prosperity
Glass Ceiling
Franchisee
Marshall Plan