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






2. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






6. Formalized business practices by standardized management practices.






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






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






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






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






12. Interstate Commerce Commission was strengthened. Regulated rates.






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






14. 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.






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






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






17. Most favored nation. Trade barriers raised.






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






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






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






21. First college of business.






22. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






23. Could only hire union workers. Illegal






24. Promote economic recovery in Europe.






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






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






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






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






29. President. Standard oil - american tobacco - us steel.






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






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






32. Sears.






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






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






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






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






37. Corporate offices






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






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






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






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






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






43. Free trade between US - Canada - Mexico






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






45. Income people could do with as the pleased.






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






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






48. Gold drain; exchange rates; free floating






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






50. Reduction in diversification. Reduction in layers of management.