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






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






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






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






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






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






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






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






9. 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.






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






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






12. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






15. Sears.






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






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






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






19. Let the people do as they please






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






21. Creators of Microsoft






22. Corporate offices






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






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






25. Worlds largest provider of computer software for desktops.






26. First college of business.






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






28. Could only hire union workers. Illegal






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






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






31. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






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






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






36. Most favored nation. Trade barriers raised.






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






38. Congress established a national banking system.






39. Gold drain; exchange rates; free floating






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






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






42. Reduction in diversification. Reduction in layers of management.






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






44. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






47. 1929 stock market crashed






48. Promote economic recovery in Europe.






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






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