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






2. Gold drain; exchange rates; free floating






3. Reduction in diversification. Reduction in layers of management.






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






5. Committed her life to social reform - immigrant committee






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






7. Free trade between US - Canada - Mexico






8. 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.






9. Congress established a national banking system.






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






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






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






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






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






15. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






18. Promote economic recovery in Europe.






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






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






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






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






23. First college of business.






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






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






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






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






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






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






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






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






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






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






35. Creators of Microsoft






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






37. Let the people do as they please






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






39. Corporate offices






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






41. Could only hire union workers. Illegal






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






43. 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.






44. Worlds largest provider of computer software for desktops.






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






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






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






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






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






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