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






2. Sears.






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






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






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






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






7. Let the people do as they please






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






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






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






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






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






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






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






15. Worlds largest provider of computer software for desktops.






16. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






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






21. 1929 stock market crashed






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






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






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






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






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






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






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






29. Promote economic recovery in Europe.






30. Most favored nation. Trade barriers raised.






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






32. 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.






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






34. First college of business.






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






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






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






38. Creators of Microsoft






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






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






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






42. Gold drain; exchange rates; free floating






43. Most women were stalled at middle management levels.






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






45. Congress established a national banking system.






46. Provided national advertising and mass production






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






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






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






50. Committed her life to social reform - immigrant committee