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






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






3. 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.






4. Most favored nation. Trade barriers raised.






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






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






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






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






9. 1929 stock market crashed






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






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






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






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






14. Free trade between US - Canada - Mexico






15. Setting of prices by mangers of large firms.






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






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






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






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






20. Corporate offices






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






22. Congress established a national banking system.






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






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






25. Let the people do as they please






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






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






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






29. Committed her life to social reform - immigrant committee






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






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






32. Reduction in diversification. Reduction in layers of management.






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






34. Most women were stalled at middle management levels.






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






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






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






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






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






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






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






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






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






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






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






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






47. 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.






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






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






50. Formalized business practices by standardized management practices.