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






2. Promote economic recovery in Europe.






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






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






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






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






7. Dept. of Justice and Federal Trade Commission. Companies could seek approval from federal gov't.






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






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






10. 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.






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






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






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






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






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






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






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






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






19. Could only hire union workers. Illegal






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






21. Worlds largest provider of computer software for desktops.






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






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






24. Most favored nation. Trade barriers raised.






25. Committed her life to social reform - immigrant committee






26. Formalized business practices by standardized management practices.






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






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






29. Corporate offices






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






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






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






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






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






35. Interstate Commerce Commission was strengthened. Regulated rates.






36. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






38. Reduction in diversification. Reduction in layers of management.






39. Congress established a national banking system.






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






41. First college of business.






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






43. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.






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






45. 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.






46. Income people could do with as the pleased.






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






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






49. Business - not independent trade unions should look after the best interest of the workers.






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