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






2. Most women were stalled at middle management levels.






3. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler






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






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






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






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






8. President. Standard oil - american tobacco - us steel.






9. Congress established a national banking system.






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






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






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






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






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






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






16. President;FDIC;Closed all banks on first day in office;only president to serve four terms.






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






18. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






21. Could only hire union workers. Illegal






22. Committed her life to social reform - immigrant committee






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






24. Promote economic recovery in Europe.






25. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






30. 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.






31. 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.






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






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






34. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.






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






36. American firms were poised to dominate economic activity in a system of free trade.






37. Worlds largest provider of computer software for desktops.






38. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.






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






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






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






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






43. Gold drain; exchange rates; free floating






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






45. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






46. Few companies combines forces to control production of sale of a product.






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






48. Setting of prices by mangers of large firms.






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






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