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






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






3. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






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






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






10. Sears.






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






12. Most favored nation. Trade barriers raised.






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






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






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






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






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






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






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






20. First college of business.






21. Formalized business practices by standardized management practices.






22. Corporate offices






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






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






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






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






27. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






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






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






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






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






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






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






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






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






39. Let the people do as they please






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






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






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






43. 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.






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






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






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






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






48. Gold drain; exchange rates; free floating






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






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