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. 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.






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






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






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






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






6. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






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






8. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






11. Promote economic recovery in Europe.






12. Sears.






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






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






15. Sought to break up the control of big business to create more opportunities.






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






17. Setting of prices by mangers of large firms.






18. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






20. 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.






21. Free trade between US - Canada - Mexico






22. First college of business.






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






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






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






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






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






28. Creators of Microsoft






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






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






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






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






33. Reduction in diversification. Reduction in layers of management.






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






35. Worlds largest provider of computer software for desktops.






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






37. Most favored nation. Trade barriers raised.






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






39. Could only hire union workers. Illegal






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






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






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






43. Income people could do with as the pleased.






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






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






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






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






48. Corporate offices






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






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