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






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






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






4. Free trade between US - Canada - Mexico






5. Reduction in diversification. Reduction in layers of management.






6. Sears.






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






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






9. Worlds largest provider of computer software for desktops.






10. Setting of prices by mangers of large firms.






11. Could only hire union workers. Illegal






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






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






14. Income people could do with as the pleased.






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






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






17. Alliance among public agencies - private firms and trade associations to handle international competitions.






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






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






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






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






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






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






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






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






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






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






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






29. 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.






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






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






32. 1901 Mark Twain - referes to substantial growth in population in the united states and extravagant displays of wealth and excess of Americas upper class






33. Provided national advertising and mass production






34. Programs intended to stabilize the economy while maintaining individual autonomy.






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






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






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






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






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






40. 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.






41. Gold drain; exchange rates; free floating






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






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






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






45. Let the people do as they please






46. First college of business.






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






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






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






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