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






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






3. Free trade between US - Canada - Mexico






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






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






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






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






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






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






10. Let the people do as they please






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






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






13. Most favored nation. Trade barriers raised.






14. Worlds largest provider of computer software for desktops.






15. 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.






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






17. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






19. Committed her life to social reform - immigrant committee






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






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






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






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






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






25. Sears.






26. Reduction in diversification. Reduction in layers of management.






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






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






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






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






31. Income people could do with as the pleased.






32. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






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






41. First college of business.






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






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






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






45. Promote economic recovery in Europe.






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






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






48. 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.






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






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







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