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






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






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






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






5. Congress established a national banking system.






6. Income people could do with as the pleased.






7. Committed her life to social reform - immigrant committee






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






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






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






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






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






13. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays






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






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






16. 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.






17. Corporate offices






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






19. Could only hire union workers. Illegal






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






21. Most favored nation. Trade barriers raised.






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






23. Creators of Microsoft






24. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






25. Formalized business practices by standardized management practices.






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






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






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






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






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






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






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






33. First college of business.






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






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






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






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






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






39. Gold drain; exchange rates; free floating






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






41. Worlds largest provider of computer software for desktops.






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






43. Let the people do as they please






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






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






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






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






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






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






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